The following four months of data were collected on utility cost and the number of...
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Accounting
The following four months of data were collected on utility cost and the number of labor hours in a factory.
| Month | Utility cost | Labor hours |
| January | $68,200 | 1,800 |
| February | 61,650 | 1,440 |
| March | 69,400 | 1,860 |
| April | 58,750 | 1,150 |
Using the high-low method, compute the variable rate for the utility cost. Please round to two decimal places.
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