Last year, Phillips Company produced 300,000 units and sold 280,000 units. Beginning inventory was zero. During the period, the following costs were incurred: Indirect labor (variable) $900,000 Indirect materials (variable) 600,000 Other variable manufacturing overhead 1,500,000 Fixed manufacturing overhead 2,400,000 Fored administrative expenses 300,000 Fixed ng expenses 450,000 Variable selling expenses, per unit Direct labor, per unit Direct materials, per unit Required: A. Compute the dollar amount of ending inventory using the Absorption costing B. Compute the dollar amount of ending inventory using the variable costing Using High-Low to Calculate Fixed Cost Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,590 February 7,100 March 7,631 April 8,240 May 9,887 June 8,590 July 10,988 490 270 7,600 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant. In your calculations, round the variable rate per employee hour to the nearest cent. If required, round your final answers to the nearest cent Required: 1. Using the high-low method, calculate the fixed cost of labor. 2. Using the high-low method, calculate the variable rate. per employee hour 3. Using the high-low method, construct the cost formula for total labor cost. Total labor cost + Employee hours)