Total Electricity Costs Total Machine Hours January February March April May June July August September October November December $2,480 2,900 3,520 4,780 3,220 5,000 4,090 3,810 5,110 4,270 3,320 5,840 210 340 500 685 420 750 650 510 675 600 340 770 Your answer is correct. Determine the fixed- and variable-cost components using the high-low method Fixed-costs 1220 Variable-costs Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor What electricity cost does the cost equation estimate for a level of activity of 500 machine hours? Electricity costs s By what amount does this differ from March's observed cost for 500 machine hours? Amount differ