Based on the following for the first six months:

	Direct Labor Hours	Manufacturing Overhead
July	45,000	$295,000
August	60,000	$320,000
September	57,000	$323,000
October	52,000	$247,250
November	34,000	$178,200
December	25,000	$162,500

Required:

1. Use the high-low method to estimate the cost formula
2. Estimate the total overhead cost at an activity level of 48,000 machine hours, using the separate estimates you obtained for its components.