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 4801 June 7,450 350 July 9,490 570 7,531 310 August Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost $5,237 + ($7.40 x Employee Hours) Required: Assume that 675 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.