Nova Company's total overhead cost at various levels of activity are presented below: Month April May June July Machine- Hours 52,000 42,000 62,000 72,000 Total Overhead Cost $223,100 $196,100 $250, 100 $277,100 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 42,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 63,000 65,000 68,100 $ 196,100 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 $277,100 of overhead cost in July was maintenance cost. (Hint: To do this, it may be helpful to first determine how much of the $277,100 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 machine-hours" to 2 decimal places.) Machine- Maintenance Cost High activity level Low activity level Change 0 $ 0 I per MH Variable cost element Fixed cost element Y= + x 13. 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 machine-hours" to 2 decimal places.) Variable Cost per Machine-HourFixed Cost Utilities cost Supervisory salaries cost Maintenance cost Total overhead cost $ 0.00 $ Y= + x 4. What total overhead cost would you expect to be incurred at an activity level of 47,000 machine-hours? (Do not round intermediate calculations.) Total overhead cost