24-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 data for the first six months of the year follow.

Using the high-low method, answer the following questions:

Please find them in the attached picture

Rafferty 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 data for the first six months of the year follow. E: (Click the icon to view the data.) Requirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? X 2. What is the fixed cost of utilities each month? Data Table 3. If Rafferty Company uses 1,240 machine hours in a month, what will its total costs be? Month Total Cost Machine Hours 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). $ 980 3,293 3,710 Variable cost (slope) $ $ 3,490 Using the high-low method, the variable utilities cost per machine hour is $. (Round the variable cost to the nearest cent.) January February March April May June $ 1,130 1,055 1,270 1,320 1,580 $ 3,750 4,200 5,003 Requirement 2. What is the fixed cost of utilities each month? Let's begin by determining the formula that is used to calculate the fixed cost component. $ Fixed cost Print Done Done Using the high-low method, the fixed cost of utilities each month is $ (Round the total variable costs to the nearest whole dollar.) Requirement 3. If Rafferty Company uses 1,240 machine hours in a month, what will its total costs be? The total costs when 1,240 machine hours are incurred is (Round your interim and final calculations to the nearest whole dollar.) Choose from any drop-down list and then continue to the next