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18 Midgett Co. has accumulated data to use in preparing its annual profit plan for the upcoming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff suggested that linear regression be employed to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the last year and the results of the regression analysis are as follows: Maintenance Machine Month Cost Hours 2 points Jan . $ 5 ,040 620 Feb . 3,648 420 02:02:46 Mar . 4, 320 520 Apr . 3, 331 390 May 5, 221 650 June 3,550 400 July 3,655 430 Aug . 5 ,365 690 Sept . 5, 110 640 Oct . 4, 866 610 Nov . 3,944 460 Dec. 3,790 440 Sum $ 51, 840 6,270 Average $4, 320.00 522.50 Average cost per hour ($51,840/6,270) = $8.27 (rounded to the nearest cent) r = 0.99743 2 = 0.99487 Using the high-low method, unit variable cost is calculated to be (round to the nearest cent)