The controller of Blossom Industries has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Electricity Costs Total Machine Hours January $1,700 200 February 2,900 320 March 3,400 450 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 6,000 720 Determine the fixed- and variable-cost components using regression analysis (We recommend the use of Excel.) (Round fixed cost to 3 decimal places e.g. 1.252 and variable cost to 5 decimal places e.g. 1.25125.) Fixed costs $ Variable-cost e Textbook and Media Assistance Used e Textbook Save for Later Attempts: 1 of 3 used Submit Answer () 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 $