Please help answer required questions 1-4

PROBLEM 2-20 High-Low Method; Predicting Cost LO 2-4, LO 2-51 Nova Company's total overhead cost at various levels of activity are presented below: Total Month Machine-Hours Overhead Cos April. May June July.... 70,000 60,000 80,000 90,000 $198,000 $174,000 $222,000 $246,000 Assume 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: Utlities (variable) Maintenance (mixed). .. $ 48,000 21,000 105,000 $174,000 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 S246,000 of overhead cost in July was maintenance cost. (Hint: to do this, 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!) Using the high-low method: estimate a cost formula for maintenance Express the company's total overhead cost in the linear equation form Y a + bX. 2. 4. What total overhead cost would you expect to be incurred at an activity level of 75.000 machine-hours