Question 3 The controller of Wildhorse Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs. 220 January February March April Total Total Electricity Costs Machine Hours $2,220 3,080 330 3,530 460 4,760 3,220 4,920 790 4,100 650 3,830 590 690 May June July August September October November December 5,000 635 4,310 3,300 7,530 810 Your answer is partially correct. Try again. (a) Determine the fixed- and variable-cost components using the high-low method. Fixed-costs 480 Variable-costs x Your answer is incorrect. Try again. (b) What electricity cost does the cost equation estimate for a level of activity of 460 machine hours? Electricity costs 4710 By what amount does this differ from March's observed cost for 460 machine hours? Amount differ 1590 1590 X Your answer is incorrect. Try again. (c) What electricity cost does the cost equation estimate for a level of activity of 790 machine hours? Electricity costs 7590 By what amount does this differ from June's observed cost for 790 machine hours? Amount differ 2010 Click if you would like to Show Work for this question: Open Show Work