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 eight months were collected: Month anuary February March April May June July August 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. Required: 1. Using the high-low method, calculate the fixed cost of labor. Labor Cost $7,000 8,140 9,899 9,787 8,490 7,450 9,490 7,531 Employee Hours 360 550 630 610 480 350 570 310 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- x Employee hours]