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It wouldn't touch the mutagen, but why would you not be able to use just regular Magical Knack for the extracts?
]Although the alchemist doesn't actually cast spells, he does have a formulae list that determines what extracts he can create. An alchemist can utilize spell-trigger items if the spell appears on his formulae list, but not spell-completion items (unless he uses Use Magic Device to do so). An extract is “cast” by drinking it, as if imbibing a potion—the effects of an extract exactly duplicate the spell upon which its formula is based, save that the spell always affects only the drinking alchemist. An alchemist can draw and drink an extract as a standard action. The alchemist uses his level as the caster level to determine any effect based on caster level.
You were raised, either wholly or in part, by a magical creature, either after it found you abandoned in the woods or because your parents often left you in the care of a magical minion. This constant exposure to magic has made its mysteries easy for you to understand, even when you turn your mind to other devotions and tasks. Pick a class when you gain this trait—your caster level in that class gains a +2 trait bonus as long as this bonus doesn’t raise your caster level above your current Hit Dice.
So an alchemist uses their level to determine caster level for effects based on it. Magical Knack increases that caster level by two. So your caster level would be equal to Alchemist Level+2 (if less than or equal to your character level). Mutagen refers specifically to alchemist level, but Magical Knack should still count for your extracts, I would think.