Reynolds Company, which uses the high-low method to analyze cost behavior, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year follow (Click the icon to view the data) Requirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? 2. What is the foxed cost of utilities each month? 3. If Reynolds Company uses 1,200 machine hours in a month, what wil its total costs be? Requirement 1. What is the variable Utilities cost per machine hour? Let's begin by determining the formula that is used to calculate the variable coststope) - Variable cost (slope) th, what will its total costs be? mour Data Table X the v E va Month Total Cost Machine Hours January $ 3,470 ... 1,030 1,110 February $ 3,750 March $ --- 3,464 1,020 April . $ 3,790 1,230 May $ 4,200 1,350 June $ 4, 144 1,420 Print Done iswer