Total Machine Overhead Cost 51,000 214,270 41,000 187,570 61,000 $ 240,970 71,000 267,670 May July Assume that the total overhead cost above consists of utlities, supervisory salaries, and maintenance. The breakdown of these costs at the 41,000 machine-hour level of activity is Utilities (variable) Supervisory salaries (fixed) Maintenance (eixed) Total overhead cost 61,500 63,000 $187,570 Nova Company's management wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1 Estimate how much of the $267670 of overhead cost in July was maintenance cost. (Hint to do this, it may be helpful to first determine how much of the $267670 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) 2. Using the high-low method, estimate a cost formula for mainteance in the form Y= a + bX 3. Express the company's total overhead cost in the form a + bx 4. What total overhead cost would you expect to be incurred at an activity level of 46,000 rs Complete this question by entering your answers in the tabs below Estimate how much of the $267,670 of determine how much of the $267,670 consisted of utilities and s cost in July w as maintenance cost. (Hint: to do this, it may be helpful to first salaries. Think about the behavior of variable and S 18