1. Barkoff Enterprises, which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the company's utilities cost. The company's relevant range of activity varies from a low of 600 machine hours to a high of 1,100 machine hours, with the following data being available for the first six months of the year:

   Month	Utilities Cost	Machine Hours
   January	$8,700	800
   February	8,360	720
   March	8,300	710
   April	9,360	920
   May	9,625	950
   June	9,800	960

   The cost formula that expresses the behavior of Barkoff's utilities cost is:

   1. None of the answer is correct

   2. Y = $5.5 x+ $4,400

   3. Y = $6 x+ $4,040

   4. Y = $4.5 x+ $4,760