The management of a business would like to have a better understanding of the behavior of its utility costs. The company has provided the following data: Month Mesth Units Units Produced 1,800 1,900 1,700 1,600 Utility Cost Month Utility Cost January February March $14,700 May 15,200 June 13,7001 July Produced 1,500 1,300 1,100 1.500 $14,300 13,100 12,800 4,600 April Required: Using the high-low method, determine the cost equation. (6 points) 14,000 August Estimate the cost that would be incurred if 1,750 hours were anticipated? (3 points) Estimate the cost that would be incurred if 200 hours were anticipated. (2 points) Page 3 of 8