T.O.TES. Case Study- Version LAB 4 Worksheet 4-1 Calculate fixed and variable costs for Factory Uailities using the High-Low method EXHIBIT 4-B: Utility Expenses for Prior Year Step I: Identify months with the High and Low Activity Levels, e-g. machine-hours. Use the data from Exhibit 4-B. Utility Expenses for Prior Year Cost of Utilities $ 3,315 415 S 3,480 450 $ 3,505 365 $ 2,972 283 2,653 260 $ 2,490 895 291S 2,9495 310 2,705 250 $ 2,617 350 2,848 342 $ 2,575 Month Machine Hours High Month:aeh Low Month:on anuary February March (round to the penny) using the high-low method. May June $2, ember November December Step 3: Cakculane fixed cost per menth (Round to nearest dollar) using the cost formala and monthly data. Write the cost foemula FIRST ep4:Calculate fixed cost per year (round to nearest dollar). Enter on Exhibit 4-C on the appropriate Step 5: Calculate the annual total variable cost using the cost formula (Round to nearest dollar) Enter on Exhibit 4-C on the appropriate line. 28