Page 2 1 2 Question 2 (10 points) Nunavut Company operates a chain of cozy coffee shops. The company's chief executive officer is interested in accumulating some information on the manufacturing overhead costs incurred by the company. You have been asked to analyze the following six months' worth of data. Month January February March April May June Manufacturing Overhead cost $60,160 56,500 58,900 63,500 59,325 62,400 No. of Labour Hours 867 624 689 974 730 901 A Using the high low method, construct a cost formula for the total manufacturing overhead cost. B. Calculate the estimated total cost of manufacturing overhead assuming 1,000 labour hours are incurred in a given month. c. The CEO would like to limit total manufacturing overhead cost in future months to 20% of total revenues. Will that be possible if total revenues are expected to average $300,000 per month and total labour hours per month are expected to average 1,000? Show all of your calculations. Format V MacBook Air