Woo Company, which uses the high-low method to analyze cost behaviour, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage date for the first six months of the year follow (Click the icon to view the data.) Requirements Using the high low method, answer the following questions 1. What is the variable utiltes cost per machine hour? 2. What is the fixed cost of utilities each month? 3. If Woo Company uses 1,210 machine hours in a month, what will its total costs be? Requirement 1. What is the variable utilities cost per machine hour? Determine the formula that is used to calculate the variable cost (slope). Choose the correct answer below CA Lowest cost Lowest volume Variable cost (slope) OB. Total operating cost-Total variable cost-Variable cost (slope) OC. Highest cost Highest volume Variable cost (slope) OD. Change in volume Change in cost Change in cost Change in volume Variable cost (slope) Variable cost (slope) Using the high-low method, the variable utilities cost per machine hour is $ (Round the variable cost to the nearest cent.) er the st p s ea ach Data table Month January...... $ 3,550 Total Cost Machine Hours 1,040 le February..... $ 3,750 1,140 to March......$ 3,520 1,045 me= April ... $ 3,740 1,290 e var May....... me June 69 69 $ 4,400 1,360 $ 5,350 1,640 e in vo - X Print ab Done nearest c