Nova Company's total overhead cost at various levels of activity are presented below: Total Overhead Cost Month April Machine Hours 53,000 $ 235,890 43,000 $ 207,590 63,000 $ 264,190 73,000 $ 292,490 May June July Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 43,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 68,800 69,000 69,790 $ 207,590 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 $292,490 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $292,490 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 48,000 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 $292,490 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $292,490 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) (Do not round intermediate calculations.) Maintenance cost in July < Required 1 Required 2 > Nova Company's total overhead cost at various levels of activity are presented below: Month April May June July Machine- Hours Total Overhead Cost 53,000 $ 235,890 43,000 $ 207,590 63,000 $ 264,190 73,000 $ 292,490 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 43,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 68,800 69,000 69,790 $ 207,590 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 $292,490 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $292,490 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 48,000 machine-hours? Complete this question by entering your answers in the tabs below. 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.) |Y = < Required 1 Required 3 > Month April May June July Machine- Hours 53,000 Total Overhead Cost $ 235,890 43,000 $ 207,590 63,000 $ 264,190 73,000 $ 292,490 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 43,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 68,800 69,000 69,790 $ 207,590 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 $292,490 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $292,490 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 48,000 machine-hours? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Express the company's total overhead cost in the form Y = a + bx. (Do not round your intermediate calculations. Round the "Variable cost per unit" to 2 decimal places.) Variable Cost per Machine- Fixed Cost hour Utilities cost Supervisory salaries cost Maintenance cost Total overhead cost Y = < Required 2 Required 4 > Nova Company's total overhead cost at various levels of activity are presented below: Month April Machine- Hours Total Overhead Cost 53,000 $ 235,890 43,000 $ 207,590 63,000 $ 264,190 73,000 $ 292,490 May June July Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 43,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 68,800 69,000 69,790 $ 207,590 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 $292,490 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $292,490 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 48,000 machine-hours? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 What total overhead cost would you expect to be incurred at an activity level of 48,000 machine-hours? (Do not round intermediate calculations.) Total overhead cost < Required 3 Required 4 >