Month Machine Hours Support Costs May 1,300 $ 21,200 June 1,250 21,000 July 2,500 25.000 August 1,800 22,000 September 2.200 24.500 Margie Ferruolo, president of First Tool, Co., has asked for information about the cost behavior of manufacturing support costs. Specifically, she wants to know how much support cost is fixed and how much is variable. The following data are the only records available: (Click the icon to view the data.) Requirements 1. Find monthly fixed support cost and the variable support cost per machine hour by the high-low method. 2. Explain how your analysis for requirement 1 would change if new October data were received and machine hours were 2,450 and support costs were $25,200. 3. A least-squares regression analysis gave the following output: Regression equation: Y $16,697 + $3.34X What recommendations would you give the president based on these analyses? Requirement 1. Find monthly fixed support cost and the variable support cost per machine hour by the high-low method. (Enter the variable cost per machine hour to the nearest cent.) The variable support cost amounts to S per machine hour and the fixed support cost amounts to $per month using the high-low method.