Colby Limited is a manufacturing company whose total factory overhead costs fluctuate somewhat from year to year, according to the number of machine-hours worked in its production facility. These costs at high and low levels of activity over recent years are given below: Level of Activity Machine-hours Total factory overhead costs LOW 64,200 $40,973,400 High 94,200 $47,783,400 The factory overhead costs above consist of indirect materials, rent, and maintenance. The company has analyzed these costs at the 64,200 machine-hours level of activity as follows: Indirect materials (variable) Rent (fixed) Maintenance (mixed) Total factory overhead costs $9,565,800 22,800,000 8,607,600 $40,973,400 t elements. For planning purposes, the company wants to break down the maintenance cost into its variable and fixed cost elen Required: 1. Estimate how much of the factory overhead cost of $47,783,400 at the high level of activity consists of maintenance cost Maintenance cost