Question 2 (20 marks) Based on the following for the first six months: Direct Labor Hours July August September October November December 45,000 60,000 57,000 52,000 34,000 25,000 Manufacturing Overhead $295,000 $320,000 $323,000 $247,250 $178,200 $162,500 Required: Use the high-low method to estimate the cost formula 2. Estimate the total overhead cost at an activity level of 48,000 machine hours, using the separate estimates you obtained for its components