question c

1.33/2 E > Question 3 of 8 View Policies Show Attempt History Current Attempt in Progress The controller of Crane Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs Total Electricity Costs Total Machine Hours January $2.620 230 February 3,010 370 March 3.590 460 April 4.770 695 May 3.240 400 June 4,850 790 July 4,100 620 August 3,850 550 September 5,110 680 October 4.300 620 November 3.310 370 December 6.680 810 (a) Your answer is correct. Determine the fixed and variable-cost components using the high-low method. Fixed-costs $ 1010 Variable costs $ 7 eTextbook and Media Attempts: 1 of 3 used (b) Your answer is correct. What electricity cost does the cost equation estimate for a level of activity of 460 machine hours? 4230 Electricity costs By what amount does this differ from March's observed cost for 460 machine hours? Amount differ $ 640 (0 Your answer is incorrect What electricity cost does the cost equation estimate for a level of activity of 790 machine hours? Electricity costs $ By what amount does this differ from June's observed cost for 790 machine hours? Amount differ $