Smithfield Company gathered the following information on power costs and factory machine usage for the last six months: Month Power Cost Factory Machine Hours January $24,400 13,900 February 30,400 17,600 March 29,000 16,800 April 22,340 13,200 May 19.900 11,600 June 16,900 8,600 Instructions Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. (a) What is the estimated variable portion of power costs per factory machine hour? (b) What is the estimated fixed power cost each month? (c) If it is estimated that 10,000 factory machine hours will be run in July, what is the expected total power cost for July