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: Labor Cost Employee Hours: $7,200 8,340 10,099 9,987 Month January February March April May June 380 570 X Open spreadsheet 650 630 500 370 8,690 7,650 July 9,690 August 7,731 Assume that this information was used to construct the following formula for monthly labor cost. 590 330 Total Labor Cost = $5,289 + ($7.40 x Employee Hours) This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and im Required: Assume that 645 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calcul 1. Calculate total variable labor cost for September. Round your answer to the nearest whole dollar. 2. Calculate total labor cost for September. Round your answer to the nearest whole dollar. Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes speciality pizzas. Data for the past 8 months and the estimate for 3 September were collected. 12 2 5 DATA 6 Month 7 8 9 March 10 April 11 May 12 June January February Labor Cost 13 July 14 August 15 16 Estimated employee hours for September 17 18 19 20 Total Labor Cost = 21 22 REQUIRED: 23 $7,200 8,340 10,099 9,987 8,690 7,650 9,690 7,731 34 Assume that this information was used to construct the following formula for monthly labor cost. $5,289 Employee Hours 380 570 650 630 500 370 590 330 Calculate total variable labor cost for September. 24 25 26 Total variable labor cost for September 27 28 REQUIRED: 29 Calculate total labor cost for September. 30 31 Total labor cost for September 32 33 645 Using formulas and cell references from the problem data, perform the required analysis. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWV2 for grading. $7.40 x Employee Hours) Formulas Formulas