Requirement 1. What is the variable utilities cost per machine hour? Let's begin by determining the formula that is used to calculate the variable cost (slope). Change in cost Change in volume = Variable cost (slope) (Round the variable cost to the nearest cent.) Using the high-low method, the variable utilities cost per machine hour is i Data Table Total Cost Machine Hours January......$ 3,460 February .$ 3,770 March $ 3,574 April 3,710 May $ 4,400 June $ 4,294 Month . $ Print Done 1,040 1,140 1,030 1,230 1,310 1,430 X iRequirements Using the high-low method, answer the following questions: 1. What is the variable utilities cost per machine hour? 2. What is the fixed cost of utilities each month? 3. If Jackson Company uses 1,200 machine hours in a month, what will its total costs be? Print - Done X