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Gargymal Company would like to estimate the variable and fixed components of its electrical costs and has compiled the following data for the last five

Gargymal Company would like to estimate the variable and fixed components of its electrical costs and has compiled the following data for the last five months of operations.

Machine HoursElectrical Cost
August1,000$1,550
September9001,510
October1,5001,750
November2,0001,950
December1,3001,670


Using the high-low method of analysis, the estimated variable cost per machine hour for electricity is closest to?

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