Angie March owns a catering company that stages banquets and parties for both individuals and companies. The business is seasonal, with heavy demand during the summer months and year-end holidays and light demand at other times. Angie has gathered the following cost information from the past year: Month Labor Hours Overhead Costs January 3,200 $52,680 February 2,500 49,890 March 2,600 50,890 April 3,700 54,530 May 4,000 57,440 June 5,200 61,080 July 7,500 69,390 August 7,200 66,480 September 6,100 61,810 October 4,200 58,380 November 2,800 52,800 November 2,800 52,800 December 6,200 62,780 Total 55,200 $698,150 (a) Your answer is partially correct. Identify the high and low points. Activity Level ta High point 7500 $ 69390 Low point 2500 $ 49890 Using the high-low method, compute the overhead cost per labor hour and the fixed overhead cost per month. (Round variable cost to 2 decimal places, e.g. 15.25 and fixed cost to O decimal places, e.g. 5,275.) $ 3.90 Variable cost per labor hour = $ Fixed cost