Smith 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.) Read the requirements. Requirement 1. What is the variable utilities cost per machine hour? Data table Month Total Cost Machine Hours Let's begin by determining the formula that is used to calculate the variable cost (slope). January... $ 3,410 1,050 + =Variable cost (slope) February 3,790 1,150 March $ 3,464 1,020 April $ 3,780 1,220 May... 4,700 1,390 June $ 4,144 1,420 Requirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? 2. What is the fixed cost of utilities each month? 3. If Smith Company uses 1,200 machine hours in a month, what will its total costs be? Print Done - Print Done -