Question: use the hi-lo method pls Lab Topic Chapter 6 Mel owns a machine shop. Below is a list of his utility bills for the past
Lab Topic Chapter 6 Mel owns a machine shop. Below is a list of his utility bills for the past 12 months. Number of achine Hours 975 Total Utility Bill $2,350 $2,440 $2,500 $2,410 $2,625 $2,480 $2,520 $2,600 $2,525 $2,490 $2,275 $2,300 Month January February March 1,100 1,200 1,050 1,395 1,165 1,260 1,400 1,330 1,175 925 April ay June July August September October November December 900 Requirements 1. Calculate the variable rate per machine hour and the total fixed utility cost. 2. Show the equation for determining the total utility cost for the machine shop. 3. If Mel anticipates using 1,000 machine hours in January, predict the shop's total utility bill using the equation from Requirement 2
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