The controller of Ivanhoe Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Electricity Costs $2,700 3,030 3,580 Total Machine Hours 300 340 460 695 4,630 3,250 480 790 January February March April May June July August September October November December 4,880 4,140 640 3,870 560 5,160 670 4,270 610 3,200 340 6,780 810 (a) Determine the fixed- and variable-cost components using the high-low method. Fixed-costs $ Variable-costs $ e Textbook and Media (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 (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 $ e Textbook and Media