CALCULATOR FULL SC Problem 22-01A a-c (Part Level Submission) The controller of Wildhorse Production has collected the following monthly expense data for analyzing the cost behavior of electricity costs. Total Total Electricity Costs Machine Hours January $2,220 220 February 3,080 330 March 3,530 460 April 4,760 690 May 3,220 440 June 4,920 790 July 4,100 650 August 3,830 590 September 5,000 660 October 4,310 635 November 3,300 330 December 6,350 810 (a) Your answer is correct. Determine the fixed- and variable-cost components using the high-low method. Fixed-costs 680 Variable-costs 7 (b) Your answer is correct. What electricity cost does the cost equation estimate for a level of activity of 460 machine hours? Electricity costs 3,900 By what amount does this differ from March's observed cost for 460 machine hours? Amount differ 370 (c) x Your answer is incorrect. Try again. What electricity cost does the cost equation estimate for a level of activity of 790 machine hours? Electricity costs 6,340 By what amount does this differ from June's observed cost for 790 machine hours? Amount differ 1,420