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Matthew owns a machine shop. In reviewing the shop's utility bills for the past 12...

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Accounting

Matthew owns a machine shop. In reviewing the shop's utility bills for the past 12 months, he found that the highest bill of $ 2 comma 600 occurred in August when the machines worked 1 comma 400 machine hours. The lowest utility bill of $ 2 comma 300 occurred in December when the machines worked 900 machine hours.
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Part 1
Requirement 1. Use the high-low method to calculate the variable cost per machine hour and the total fixed utility cost.
First, calculate the variable cost per machine hour. Select the formula labels, then enter the amounts and compute the variable cost per machine hour. (Use the high-low method. Round your answer to the nearest cent.)
Part 2
Change in total costs
-:
Change in volume of activity
=
Variable cost per machine hour
-:
=

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