Smith Company, which uses the high-low method to analyze cost behavior, has determined that machine hours best predict the company's total utilities cost. The company's cost and machine hour usage data for the first six months of the year follow :(Click the icon to view the data.) Read the requirements Requirement 1. What is the variable utilities cost per machine hour? i Data Table 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.) Month Total Cost Machine Hours January . ..... S 3,480 1,090 Using the high-low method, the variable utilities cost per machine hour is February .... . 5 3,710 1,100 March ..... . S 3,768 1 080 April .. . .....3 3,750 1,200 May . .. ...5 4.300 1,370 June 4.508 1,480 Enter any number in the edit fields and then click Check Answer. Print Done ? 3 parts remaining Clear All