(c) * Your answer is incorrect. What electricity cost does the cost equation estimate for a level of activity of 500 machine hours? (Round answer to 2 decimal places e.g. 1.25.) Electricity costs $ 7588.76 By what amount does this differ from March's observed cost for 500 machine hours? (Round answer to 2 decimal places e.g. 1.25.) Amount differ $ 3998.76 September 5,080 660 October 4,210 625 November 3.290 390 December 6,300 820 (a) Your Answer Correct Answer (Used) Determine the fixed- and variable-cost components using regression analysis (We recommend the use of Excel) (Round fixed cost to 3 decimal places e.g. 1.252 and variable cost to 5 decimal places e.g. 1.25125.) Fixed costs $ 826.264 Variable-cost $ 5.72191 costs. Total Electricity Costs Total Machine Hours January $2,570 260 February 3,060 390 March 3,590 500 April 4,760 690 May 3,220 490 June 4,910 800 July 4,120 650 August 3,800 540 September 5,080 660 October 4.210 625 November 3.290 390 December 6,300 820 Wing monthly expense data for analyzing the cost bel