Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past eight months were collected: Month Labor Cost Employee Hours January $7,000 360 February 8,140 550 March 9,899 630 April 9,787 610 May 8,490 480 June 7,450 350 July 9,490 570 August 7,531 310 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost =