Subm Colby Limited is a manufacturing company whose total factory overhead costs fluctuate somewhat from year to year, according to the number of machine-hours worked in its production facility. These costs at high and low levels of activity over recent years are given below: Level of Activity High 92,000 $37,380,000 Low Machine-hours 82,e00 $35,230,e00 Total factory overhead costs The factory overhead costs above consist of indirect materials, rent, and maintenance. The company has analyzed these costs at the 82,000 machine-hours level of activity as follows: $12,546, eee 13,600,eee 9,084,e0e Indirect materials (variable) Rent (fixed) Maintenance (mixed) $35,230,e00 Total factory overhead costs break down the maintenance cost into its variable and fixed cost elements For planning purposes, the company wants Required: 1. Estimate how much of the factory overhead cost of $37,380,000 at the high level of activity consists of maintenance cost Required: 1. Estimate how much of the factory overhead cost of $37,380,000 at the high level of activity consists of maintenance cost Maintenance cost 2. Using the high-low method, estimate a cost formula for maintenance. Y = X 3. What total overhead costs would you expect the company to incur at an operating level of 87,000 machine-hours? Total factory overhead costs Prev 5 of 5 Next teiaetB 742 PM ENG 2019-09