Machine-Overhead 1,000 205,720 41,000177,520 61,000 233,920 July71,000 262,120 April May June ook int ences Assume that the total overhead cost above consists of utilities, supervisory salarles, and malntenance. The breakdown of these costs at the 41,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed)42,000 Maintenance (nixed) Total overhead cos 65,600 69,920 $177,520 Nova Company's management wants to break down the maintenance cost into its variable and fixed cost elements Required: 1. Estimate how much of the $262,120 of overhead cost in July was maintenance cost. (Hint:to do this, it may be helpful to first determine how much of the $262,120 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) 2. Using the high-low method, estimate a cost formula for maintenance in the form Y=a + bX 3. Express the company's total overhead cost in the form Y=a + bx. 4. What total overhead cost would you expect to be incurred at an activity level of 46,000 machine-hours