Question 1 Time: 20 minutes Total: 10 marks Dundar|Mifflin makes electronic products for the RCMP. The following data is for the first six months: January February March Direct Labor Hours 45,000 64,000 57,000 58,000 24,000 29,000 Manufacturing Overhead $295,000 $310,000 $323,000 $320,000 $174,000 $162,500 April May June Required: 1. Use the high-low method to estimate the cost formula (6 marks) 2. Estimate the total overhead cost at an activity level of 41,000 machine hours, using the separate estimates you obtained for its components. (4 marks)