P-3 (12 points) The following data were obtained from the records of the Nelson Co. The company accountant has determined that electrical cost is most closely related to the machine hours used in the production process for a given period. Show all supporting computations. Electrical Cost Month Machine Hours $1,560 Jan. 2,000 $2,230 Feb. 3,000 $1,750 March 2,400 $1,520 April 1,900 $1,450 May 1,800 a. Use the data presented above and the high-low method to calculate the variable electrical cost per machine hour, b. Use the high low-method to calculate the fixed overhead cost per month c. Use the estimates developed in a, and b. above to predict overhead costs for a period when 2,100 machine hours are used