The following data relate to the Torrence Company for May and August of the current year: May August Maintenance hours 25, 000 30, 000 Maintenance cost $1, 187, 000 $1, 277, 060 May and August were the lowest and highest activity levels, and Torrence uses the high-low method to analyze cost behavior. Which of the following statements is true? Multiple Choice O The variable maintenance cost is $47 per hour. O The variable maintenance cost is $44 per hour. O More than one of the other answers is true. O The fixed maintenance cost is $737,000 per month. O The variable maintenance cost is $43 per hour