Nova Company's total overhead cost at various levels of activity are presented below: Total Overhead Cost $173,200 Machine- Month April May June July Hours 46,000 36,000 56,000 66,000 $ 148,700 $197,700 $222,200 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 36,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 50,400 46,000 52,300 $148,700 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 $222,200 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $222,200 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 41,000 machine-hours