Nova Company's total overhead cost at various levels of activity are presented below: Month April May June July Machine Hours 48,000 38 eee 58,00 68,000 Total Overhead Cost $ 177,420 $ 154,520 $ 200,320 5 223,220 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 38,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 45,600 53,000 55,920 $154,520 Nove Company's management wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $223,220 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $223,220 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 43,000 machine-hours? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required a Required 4 Estimate how much of the $223,220 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $223,220 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) (Do not round intermediate calculations.) Maintenance cost in July Requies 1 Required 2 >