The controller of Cullumber Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Total Electricity Costs Machine Hours $2,540 290 3,060 3,520 460 350 4,660 685 3,220 480 790 January February March April May June July August September October November December 635 4,880 4,040 3,880 5,050 4,370 3,360 6,180 550 660 615 350 810 Your answer is correct. Determine the fixed-and variable-cost components using the high-low method. Fixed-costs $ 510 Variable-costs $ (b) What electricity cost does the cost equation estimate for a level of activity of 460 machine hours? Electricity costs $ By what amount does this differ from March's observed cost for 460 machine hours? Amount differ $ e Textbook and Media . Your answer is incorrect. (c) What electricity cost does the cost equation estimate for a level of activity of 790 machine hours? Electricity costs $ By what amount does this differ from June's observed cost for 790 machine hours? Amount differ $