Required information [The following information applies to the questions displayed below] The following information is available regarding the total manufacturing overhead of Olaf Company for a recent four- month period. Machine Mfg. Hours Overhead April May June July 66,000 $174,000 50,000 $157,000 103,000 $204,700 99,000 $185,000 Using the high-low method, compute the variable element of manufacturing overhead cost per machine hour