Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period that Differs from the Data Period Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost Employee Hours January $6,800 340 February 9,699 530 March 7,940 650 April 9,587 590 May 8,290 460 June 7,331 330 July 9,290 550 August 7,250 290 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $6,693 + ($1.92 X Employee Hours) Required: Assume that 4,200 employee hours are budgeted for the coming year. Use the total labor cost formula to make the following calculations: 1. Calculate total variable labor cost for the coming year. Round your answer to the nearest dollar. S 2. Calculate total fixed labor cost for the coming year. Round your answer to the nearest dollar. 3. Calculate total labor cost for the coming year. Round your answer to the nearest dollar. TA