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Jones Company used the high-low method to derive its cost formula for electricity cost. According...

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Accounting

Jones Company used the high-low method to derive its cost formula for electricity cost. According to the cost formula, the variable cost per unit of activity is $3 per machine-hour. Total electricity cost at the high level of activity was $7,600 and at the low level of activity was $7,300. If the high level of activity was 1,200 machine hours, then the low level of activity was:

Group of answer choices

800 machine hours

1,100 machine hours

1,000 machine hours

900 machine hours

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