Nova Company's total overhead cost at various levels of activity are presented below. Month April May June July Machine Hours 52, eee 42,00 62,000 72,000 Total Overhead Cost $ 182,400 $ 157,9ee $ 206,9ee $ 231, 4ee 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 $ 5e, 4ee 43,000 64,500 $157,900 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 $231.400 of overhead cost in July was maintenance cost. (Hint to do this, it may be helpful to first determine how much of the $231.400 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 47.000 machine-hours? Complete this question by entering your answers in the tabs below