Nova Company's total overhead cost at various levels of acivity are presented below Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 37,000 machine-hour level of activity is: 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 $234 840 of overhead cost in July was maintenance cost. (Hint: To do this, it may be helpful to first determine how much of the $234,840 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs) (Do not round intermediate calculations) 2. Using the high-low method, estimate a cost formula for maintenance. (Do not round your intermediate calculations. Round the "Variable cost per machine hours" to 2 decimal places.) 3. Express the company's total overhead cost in the linear equation form Y = a + bX. (Do not round your intermediate calculations. Round the "Variable cost per machine-hours" to 2 decimal places.) 4what total overhead cost would you expect to be incurred at an activity level of 42,000 machine-hours? (Do not round intermediate calculations.) Nova Company's total overhead cost at various levels of acivity are presented below Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 37,000 machine-hour level of activity is: 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 $234 840 of overhead cost in July was maintenance cost. (Hint: To do this, it may be helpful to first determine how much of the $234,840 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs) (Do not round intermediate calculations) 2. Using the high-low method, estimate a cost formula for maintenance. (Do not round your intermediate calculations. Round the "Variable cost per machine hours" to 2 decimal places.) 3. Express the company's total overhead cost in the linear equation form Y = a + bX. (Do not round your intermediate calculations. Round the "Variable cost per machine-hours" to 2 decimal places.) 4what total overhead cost would you expect to be incurred at an activity level of 42,000 machine-hours? (Do not round intermediate calculations.)