Crosshill Company's total overhead costs at various levels of activity are presented below: Month April May June July Machine-Hours 63,000 53,000 73,000 83,000 Total Overhead Cost $141,000 $156,000 $322,000 $194,000 Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 53,000-machine-hour level of activity in May is as follows: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 27,000 21,000 108,000 $156,000 The company wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $194,000 of overhead cost in July was maintenance cost. (Hint: To do this, first determine how much of the $194,000 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 and correct. Maintenance cost in July $ 130,717 2. Using the high-low method, estimate a cost formula for maintenance. (Round the "Variable cost per unit" to 2 decimal places.) X Answer is complete but not entirely correct. Maintenance Cost Machine- Hours 83,000 $ 130,717 X High activity level Low activity level Change 53,000 30,000 108,000 22,717 $ Variable cost element $ 0.74 X per MH Fixed cost element 124,575 X X Answer is complete but not entirely correct. Y= $ 124,575 X + $ 0.74 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 not complete. Variable Cost per Machine- Hour Fixed Cost Utilities cost Supervisory salaries cost Maintenance cost Total overhead cost $ 0.00 0 Y = 4. What total overhead cost would you expect to be incurred at an activity level of 68,000 machine-hours? (Round the "Variable cost per unit" to 2 decimal places.) Total overhead cost