The following information is available regarding the total manufacturing overhead of Bursa Mfg. Co. for a recent four-month period: 1. Use the high-low method to determine: a. The variable element of manufacturing overhead costs per machine-hour. b. The fixed element of monthly overhead cost. c. Determine the cost formula for the manufacturing overhead costs. 2. Bursa expects machine-hours in May to equal 5,300 . Use the cost relationships determined in part 1 to forecast May's manufacturing overhead costs. 3. Bursa expects machine-hours in June to equal 10,000 . Is the cost formula in part 1 appropriate for use at this level of activity? Thoroughly elaborate on the previous statement. 4. There are other ways of disentangling mixed costs into its variable and fixed components to the high-low method. Clarify the previous statement, while highlighting the limitations of the high-low method