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Problem 6A-8 (Algo) High-Low Method; Predicting Cost [LO6-10] Nova Company's total overhead cost at various levels of activity are presented below: Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 38,000 machine-hour level of activity is: 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 $259,280 of everhead cost in July was maintenance cost. (Hint to do this, it moy be helpful to first determine how much of the $259,280 consisted of utlities and supervisory salaries. Think about the behavior of variable and fixed costs.) 2. Using the high-low method, estimate a cost formula for maintenance in the form Y=a+bX. 3. Express the company's total overbeed cost in the form Y an a +bX. 4. What total ovemead cost would you expect to be incurred at an activity level of 43,000 machine-hours? Complete this question by entering your answers in the tabs below. Estimate how much of the $259,280 of overheed cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $259,280 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) (Do not round intermediate calculations.) Required: 1. Estimate how much of the $259,280 of overhead cost in July was maintenance cost. (Hint to do this, it may be helpful to first determine how much of the $259,280 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 maintenance in the form Y=a+bX. 3. Express the company's total overhead cost in the form Y=a+bX. 4. What total overhead cost would you expect to be incurred at an activity level of 43,000 machine-hours? Complete this question by entering your answers in the tabs below. Using the high-low method, estimate a cost formula for maintenance in the form Y=a+bX. (Do not round your intermediate calculations. Round the "Variable cost per machine hour" to 2 decimal places.) equired: Estimate how much of the $259,280 of overhead cost in July was maintenance cost. (Hint to do this, it may be helpful to first letermine how much of the $259,280 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed (osts.) 2. Using the high-low method, estimate a cost formula for maintenance in the form Y=a+bX. 3. Express the company's total overhead cost in the form Y=a+bX 4. What total overhead cost would you expect to be incurred at an activity level of 43,000 machine-hours? Complete this question by entering your answers in the tabs below. Express the company's total overhead cost in the form r=a+bx. (Do not round your intermediate calculations. Round the "Variable cost per machine hour" to 2 decimal places.) Required: 1. Estimate how much of the $259,280 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $259,280 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 maintenance in the form Y=a+bX. 3. Express the company's total overhead cost in the form Y=a+bX. 4. What total overhead cost would you expect to be incurred at an activity level of 43,000 machine-hours? Complete this question by entering your answers in the tabs below. What total overhead cost would you expect to be incurred at an activity level of 43,000 machine-hours? (Do not round intermediate calculations.)