Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost =$4,924+($6.96 Employee Hours ) This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Assume that 655 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations: 1. Calculate total variable labor cost for September. Round your answer to the nearest whole dollar. \$ x 2. Calculate total labor cost for September. Round your answer to the nearest whole dollar. X Feedback Check My Work 1. Total Variable Labor Cost = Variable Rate Employee Hours 2. Use the cost formula given