Nova Company's total overhead cost at various levels of activity are presented below. Machine- Total Overhead Month April Hours Cost 46,000 $182,800 May June July 36,000 $158,800 56,000 $206,800 66,000 $230,800 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these c at the 36,000 machine-hour level of activity is: Utilities (variable) $ 43,200 Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost 59,000 56,600 $158,800 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 $230,800 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $230,800 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixe 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?