Nova Company's total overhead cost at various levels of activity are presented below: Total Overhead Machine- Month April May June Hours Cost 48,000 38,000 $ 197,860 $ 174,160 July 58,000 68,000 $ 221,560 $ 245,260 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 $ 49,400 65,000 59,760 $174,160 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 $245,260 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $245,260 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 3 Required 4 Estimate how much of the $245,260 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $245,260 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) (Do not round intermediate calculations.)