Tran Company, which uses the high-low method to analyze cost behavior, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year follow: B Click the icon to view the data.) Read the requirements. ***** Requirement 1. What is the variable utilities cost per machine hour? Let's begin by determining the formula that is used to calculate the variable cost (slope). Change in cost Change in volumo = Variable cost (slope) (Round the varable cost to the nearest cont) Using the high-low method, the variable utilities cost per machine hour is Month Total Cost Machine Hou . . $ 3,400 1,090 January February $ 3,760 1,190 $ $ March ta 3,532 1,080 April ta $ 3,700 1,250 May $ 4,500 1,350 June $ 4,192 1,480