Nova Company's total overhead cost at various levels of activity are presented below: Month April Machine Hours 46,000 36,000 56,000 66,000 Total Overhead Cost $ 207,880 $ 180,580 $ 235,180 $ 262,480 May June July Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these at the 36,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 54,000 64,000 62,580 $180,580 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 $262,480 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $262,480 consisted of utilities and supervisory salaries. Think about the behavior of variable and fix 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 41,000 machine-hours? Complete this question by entering your answers in the tabs below