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The following information is available regarding the total manufacturing overhead of Olaf Company for a recent four-month period.
| | Machine Hours | | Mfg. Overhead |
| April | 70,000 | | $ | 176,000 | |
| May | 50,000 | | $ | 159,000 | |
| June | 105,000 | | $ | 219,500 | |
| July | 101,000 | | $ | 187,000 | |
| |
Using the high-low method, compute the variable element of manufacturing overhead cost per machine hour.
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$2.27 per machine hour
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$1.10 per machine hour
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$.35 per machine hour
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$1.24 per machine hour
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