Nova Company's total overhead cost at various levels of activity are presented below: Month April May Machine- Hours 70,000 60,000 80,000 90,000 Total Overhead Cort $198,000 $174,000 $222,000 $246,000 June July Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown at the 60,000 machine-hour level of activity is: these costs Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) $ 48,000 21,000 105,000 Total overhead cost $ 174,000 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 $246,000 of overhead cost in July was maintenance cost. (Hint to do this, it may be helpful to first determine how much of the $246,000 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs!) (Do not round intermediate calculations.) Maintenance cost in July 2. Using the high-low method, estimate a cost formula for maintenance. (Do not round your intermediate calculations. Round the "Variable cost per unit" to 2 decimal places.) Machine Hours Maintenance Cost High activity level Low activity level Change Variable cost element Fixed cost element per MH 3. Express the company's total overhead cost in the linear equation form Y=2+bx (Do not round your intermediate calculations. Round the "Variable cost per unit" to 2 decimal places.) Variable Cost per Machine-Hour Fixed Cost Ulities cost Supervisory salaries cost Maintenance cost Total overhead cost 3. Express the company's total overhead cost in the linear equation form Y = a + bx. (Do not round your intermediate calculations. Round the "Variable cost per unit" to 2 decimal places.) Variable Cost per Machine Hour Fixed Cost Utilities cost Supervisory salaries cost Maintenance cost Total overhead cost 4. What total overhead cost would you expect to be incurred at an activity level of 75,000 machine-hours? (Do not round Intermediate calculations.) Total overhead cost