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 Requirements Data Table 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? Month Total Cost Machine Hours $ 3,460 1,040 Print Done January ... February March $ 3,770 1,140 $ 3,574 1,030 1,230 $ 3,710 April May $ 4,400 1,310 1,430 June 4,294 Print Done