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Month Labor Cost($) Employee Hours January 9,590 400 February 7,100 470 March 7,631 500 April 8,240 370 May 9,887 430 June 8,590 340 July 11,500
Month Labor Cost($) Employee Hours January 9,590 400 February 7,100 470 March 7,631 500 April 8,240 370 May 9,887 430 June 8,590 340 July 11,500 560 August 7,600 310 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 variable rate. $ per employee hour 2. Using the high-low method, calculate the fixed cost of labor. $ 3. Using the high-low method, construct the cost formula for total labor cost. Total labor cost = $ + ($ x Employee hours)
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