BRIEF EXERCISE 6-2 Applying the High-Low Method (LO2-CC9] The Royal Canadian Lodge in Banf, Alberta, has accumulated records of the total electrical costs of the hotel and the sumber of occupancy days over the last year. An occupancy-day represents a room rented out for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. Occupancy Days 1,736 1407 January February March April Bectrical Costs 54.127 3,207 5.210 2.857 2.555 960 630 May 2.871 June 744 2.696 2108 4670 1406 480 1391 July August September October November December 230 720 2454 1364 3,529 Required: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day: Round the fiud cost to the nearest whole dotlar and the variable cost to the nearest whole cent 2. What factors other than occupancy days are likely to affect the monthly variation in electrical costa