The controller of Cullumber Industries has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Total Electricity Costs Machine Hours January $2,370 230 February 3,100 370 March 3,460 450 April 4,540 695 May 3,240 400 June 4,960 770 July 4.150 625 August 3,910 510 September 5,000 665 October 4,270 610 November 3,280 370 December 6.050 790 1.75/3.5 E ! Your answer is correct. Determine the fixed- and variable-cost components using regression analysis (We recommend the use of Excel.) (Round fixed cost to 3 decimal places eg. 1.252 and variable cost to 5 decimal places eg. 1.25125.) Fixed costs 1072.655 Variable-cost $ 5.46772 eTextbook and Media (c) What electricity cost does the cost equation estimate for a level of activity of 450 machine hours? (Round answer to 2 decimal places eg. 1.25.) Electricity costs $ By what amount does this differ from March's observed cost for 450 machine hours? (Round answer to 2 decimal places e.g. 1.25.) Amount differ $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit