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 9,490 510 February 7,000 590 March 7,531 620 April 8,140 470 May 9,787 550 June 8,490 430 July 13,080 700 7,500 390 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. If required, round your final answers to the nearest cent. Required: 1. Using the high-low method, calculate the variable rate. $ 19.63 per employee hour 2. Using the high-low method, calculate the fixed cost of labor. -155.70 X 3. Using the high-low method, construct the cost formula for total labor cost. Total labor cost = $ + ($ 19.63 X x Employee hours)