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 $ 215,400 $ 188,900 $ 241,900 $ 268,400 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 59,000 66,900 $188,900 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 $268,400 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $268,400 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. Required 1 Required 2 Required 3 Required 4 Estimate how much of the $268,400 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $268,400 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) (Do not round intermediate calculations.) Maintenance cost in July 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.) Y = 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 Y = 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