Month April Machine- Hours 70,000 60,000 80,000 90,000 Total Overhead Cost $198.000 $174,000 $ 222,000 $ 246.000 May June July Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 60,000 machine-hour level of activity is: Utilities variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 48,000 21,000 105,000 $174,000 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 $246,000 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $246,000 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 75,000 machine-hours? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Estimate how much of the $246,000 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $246,000 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) (Do not round your inter nediate calculations.) Maintenance cost in July Required Required 2 > Required 1 Required 2 Required 3 Required 4 Using the high-low method, estimate a cost formula for maintenance in the form Y = a + bx. (Do not round your intermediate calculations. Round the "Variable cost per unit" to 2 decimal places.) ( Required 1 Required 3 > Required 1 Required 2 Required Required 4 Express the company's total overhead cost in the form Y = "Variable cost per unit" to 2 decimal places.) +bX. (Do not round your intermediate calculations. Round the Variable Cost per Machine Fixed Cost Hour Utilities cost Supervisory salarios cost Maintenance cost Total overhead cost S 0.00 S 0 Required 1 Required 2 Required 3 Required 4 What total overhead cost would you expect to be incurred at an activity level of 75,000 machine-hours? (Do not round your intermediate calculations.) Total overhead cost