Crosshill Company's total overhead costs at various levels of activity are presented below: Total Machine- Overhead Month Hours Cost April 48,000 38,000 58,000 68,000 $217,240 $189,940 $244,540 $271,840 May June July Assume that the overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 38,000-machine-hour level of activity in May is as follows: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) $57,000 67,000 65,940 Total overhead cost $ 189,940 The company wants to break down the maintenance cost into its variable and fixed cost elements Required: 1. Estimate how much of the $271,840 of overhead cost in July was maintenance cost. (Hint: To do this, first determine how much of the $271,840 consisted of utilities and supervisory salaries. Think about the behaviour of variable and fixed costs within the relevant range.) (Do not round intermediate calculations.) Maintenance cost in July 2. Using the high-low method, estimate a cost formula for maintenance. (Do not round your intermediate calculations. Round the "Variable cost per unit" to 2 decimal places.) Machine- Maintenance Cost Hours High activity level 68,000 Low activity level 38,000 30,000 $ Change per MH Variable cost element Fixed cost element