Question 4 Lewisa Company needs to determine the variable utilities rate per machine hour in order to estimate cost for August. Relevant information is as follows Machine Hours Month Worked April May June July 4,500 4,200 6,500 7,000 Utilities Cost $ 9,560 9,440 10,725 11,400 Lewisa anticipates producing 5,000 units in August, each unit requiring 1.5 hours of machine time. The company uses the high-low method to analyze costs Required A. Calculate the variable and fixed components of the utilities cost. B. Using the data calculated above, estimate the utilities cost for August. C. Compare the high-low method versus the visual-fit method with respect to (1) number of data observations used in the analysis and (2) objectivity of the results