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 $7,000 February 8,140 March 9,899 April 9,787 May 8,490. June 7,450 July 9,490 August 7,531 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 variable rate. $ per employee hour 2. Using the high-low method, calculate the fixed cost of labor. $ 360 550 630 610 480 350 570 310 3. Using the high-low method, construct the cost formula for total labor cost. Total labor cost = $ + [$ x Employee hours] 2 more Check My Work uses remaining.