Question 5 The controller of Blossom Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Total Electricity Costs Machine Hours January $1,700 200 February 2,900 320 March 3,500 450 April 4,500 685 May 3,150 400 June 4,850 700 July 4,000 620 August 3,800 510 September 5,000 660 October 4,200 600 November 3,200 320 December 5,860 720 Determine the fixed- and variable-cost components using the high-low method. Fixed-costs $ Variable-costs $ What electricity cost does the cost equation estimate for a level of activity of 450 machine hours? Electricity costs $ By what amount does this differ from March's observed cost for 450 machine hours? Amount differ $ What electricity cost does the cost equation estimate for a level of activity of 700 machine hours? Electricity costs $ By what amount does this differ from June's observed cost for 700 machine hours? Amount differ $ Click if you would like to Show Work for this question: Open Show Work