Nova Company's total overhead costs at various levels of activity follow: 3 Month April May June July Machine- Hours 77,500 114,500 95,000 105,000 Total Overhead Costs $ 213,000 285,000 237,000 246,750 10 points eBook Assume that the total overhead costs consist of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 77,500 machine-hour level of activity is as follows: Print References Utilities (V) Supervisory salaries (F) Maintenance (M) Total overhead costs $ 48,750 22,500 141,750 $213,000 V = variable; F = fixed; M = mixed. Nova Company's management wants to break the maintenance cost down into its basic variable and fixed cost elements. Required: 1. As shown, overhead costs in May amounted to $285,000. Determine how much of this consisted of maintenance cost. (Hint: To do this, it may be helpful to first determine how much of the $285,000 consisted of utilities and supervisory salaries. Think about the behaviour of variable and fived coctellino nat round intermediate calculations Dound your ancware to thannaract whola dollar Nova Company's management wants to break the maintenance cost down into its basic variable and fixed cost elements. 3 Required: 1. As shown, overhead costs in May amounted to $285,000. Determine how much of this consisted of maintenance cost. (Hint: To do this, it may be helpful to first determine how much of the $285,000 consisted of utilities and supervisory salaries. Think about the behaviour of variable and fixed costs!) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) 10 points Maintenance cost eBook Print References 2. By means the high-low method, estimate a cost formula for maintenance. (Do not round intermediate calculations. Round "Fixed cost" answer to the nearest whole dollar and "Variable cost" answer to 2 decimal places.) Y= IX m. 3. Express the company's total overhead costs in the linear equation form Y = a +bX. (Do not round intermediate calculations. Round "Fixed cost" answer to the nearest whole dollar and "Variable cost" answer to 2 decimal places.) Y= 10 points eBook Print References 4. What total overhead costs would you expect to be incurred at an operating activity level of 75,000 machine-hours? At an operating activity level of 90,000 machine-hours? (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Total Overhead Cost 75,000 machine-hours 90,000 machine-hours