Need some assistance with question problem: PROBLEM 2-20 High-Low Method; Predicting Cost [LO 2-4, LO 2-5]Nova Company's total overhead cost at various levels of activity are presented below:MonthMachine-HoursTotal Overhead CostApril..............70,000$198,000May..............60,000$174,000June .............80,000$222,000July ..............90,000$246,000Assume that the total overhead cost above consists of utilities, supervisory salaries, and main-tenance. The breakdown of these costs at the 60,000 machine-hour level of activity is:Utilities(variable) .......................$ 48,000Supervisorysalaries(fixed)...............21,000Maintenance(mixed) .................... 105,000Totaloverheadcost .....................$174,000Nova Company's management wants to break down the maintenance cost into its variable and fixed cost elements.Required: 1. Estimate how much of the $246,000 of overhead cost in July was maintenance cost. (Hint: it may be helpful to first determine how much of the $246,000 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. 3. Express the company's total overhead cost in the linear equation form Y = a + bX. 4. What total overhead cost would you expect to be incurred at an activity level of 75,000 machine-hours?