The method of analyzing cost behavior that uses two data points to first determine the variable cost per unit and then the total fixed cost is the: a. Method of least squares. b. Scattergraph method. c. High-low method. d. Observation method. Nutt Industries electricity costs and machine hours over a six-month period follow: Using the high-low method, what is the formula that can be used to estimate electricity costs at different levels of volume? a. Electricity costs = $2, 800 + ($1.00 times number of machine hours) b. Electricity costs = $2, 600 + ($1.00 times number of machine hours) c. Electricity costs = $400 + ($1.67 times number of machine hours) d. Electricity costs = $3, 600 + ($.60 times number of machine hours) A predetermined factory overhead rate is computed by dividing a. Actual overhead cost by actual production. b. Actual overhead cost by budgeted production. c. Budgeted overhead by actual production. d. Budgeted overhead by budgeted production