Nova Company's total overhead cost at various levels of activity are presented below: Month April May June July Machine- Hours 49,000 39,000 59,000 69,000 Total Overhead Cost $ 195,790 $ 171,690 $ 219,890 $ 243,990 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 39,000 machine-hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 46,800 62,000 62,890 $171,690 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 $243,990 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $243,990 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 44,000 machine-hours? Required 1 Required 2 Required 3 Required 4 Estimate how much of the $243,990 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $243,990 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) (Do not round intermediate calculations.) Maintenance cost in July Required 1 Required 2 Required 3 Required 4 Using the high-low method, estimate a cost formula for maintenance in the form Y = a + bX. (Do not round your intermediate calculations. Round the "Variable cost per unit" to 2 decimal places.) Required 1 Required 2 Required 3 Required 4 Express the company's total overhead cost in the 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 $ 0.00 $ 0 Y = Required 1 Required 2 Required 3 Required 4 What total overhead cost would you expect to be incurred at an activity level of 44,000 machine-hours? (Do not round intermediate calculations.) Total overhead cost