Question: Need help with steps solved in the following problem for 1-4, thank you . or incorrect for the work you have completed so far. It
or incorrect for the work you have completed so far. It does not indicate Month April May June July Machine Hours 47,000 37,600 57,000 67,000 Total Overhead Cost $ 192,240 $ 169,040 $ 215,440 $ 238,640 Assume that the total overhead cost above consists of utilities, supervisory salarles, and maintenance. The breakdown of these costs at the 37,000 machine hour level of activity is: Utilities (variable) Supervisory salaries (fixed) Maintenance (mixed) Total overhead cost $ 44,400 67,000 57,640 $169,040 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 $238,640 of overhead cost in July was maintenance costant to do this, it may be helpful to first determine how much of the $238.640 consisted of utilities and supervisory salaries. Think about the behavior of variable and fed costs) 2. Using the high-low method, estimate a cost formula for maintenance in the form Ya+bX 3. Express the company's total overhead cost in the form Y=2+bx 4. What total overhead cost would you expect to be incurred at an activity level of 42,000 machine hours? Molled o
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