Crosshill Company's total overhead costs at various levels of activity are presented below: Month April May June July Machine-Hours 57,000 47,000 67,000 78,000 Total Overhead Cost $119,000 $149,000 $339,000 $177,000 Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 47,000- machine-hour level of activity in May is as follows: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 22,000 24,000 103,000 $149,000 The company wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $177,000 of overhead cost in July was maintenance cost. (Hint: To do this, first determine how much of the $177,000 consisted of utilities and supervisory salaries. Think about the behaviour of variable and fixed costs within the relevant range.) (Round the "Variable cost per unit" to 2 decimal places.) Answer is complete but not entirely correct. Maintenance cost in July $ 120,240 2. Using the high-low method, estimate a cost formula for maintenance. (Round the "Variable cost per unit" to 2 decimal places.) Answer is complete but not entirely correct. Machine- Hours Maintenance Cost 78,000 $ 120,240 47,000 103,000 31,000 $ 17,240 High activity level Low activity level Change $ per MH Variable cost element Fixed cost element 0.56 23,564 Answer is complete but not entirely correct. $ 23,654 + $ 0.56 X X 3. Express the company's total overhead cost in the form Y = a +bX. (Round the "Variable cost per unit" to 2 decimal places.) Answer is complete but not entirely correct. Variable Cost per Machine- Fixed Cost Hour Utilities cost $ 0.42 Supervisory salaries cost $ 24,000 Maintenance cost 0.56 23,654 Total overhead cost $ 0.98 $ 47,654 Answer is complete but not entirely correct. Y= $ 47,654 $ 0.98 x 4. What total overhead cost would you expect to be incurred at an activity level of 62,000 machine-hours? (Round the "Variable cost per unit" to 2 decimal places.) Answer is complete but not entirely correct. Total overhead cost $ 108,415 As