Use the following information

# Machine Maintenance

Month Hours (X) Costs (Y)

Jan 3,000 $440

Feb 4,500 $690

Mar 8,000 $510

Apr 7,000 $600

May 6,000 $550

Jun 9,000 $980

Jul 3,500 $840

Aug 5,500 $600

Using the high-low methods, calculate the fixed cost and variable cost (show steps of calculation) and present both the slope and cost equation.