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 9,390 290 February 6,900 330 March 7,431 350 April 8,040 260 May 9,687 310 June 8,390 240 July 10,604 400 August 7,400 220 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. 18.83 per employee hour 2. Using the high-low method, calculate the fixed cost of labor, 3,072 3. Using the high-low method, construct the cost formula for total labor cost Total labor cost = 3,072 + (s 18.83 * Employee hours)