480 Using High-Low to Calculate Fixed Cost Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty plazas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,690 420 February 7,200 March 7,731 510 April 8,340 380 May 9,987 450 June 8,690 350 July 11,704 580 August 7,700 320 Pizza Vesuvio's controller wants to calculate the fixed and variable costs associated with labor used in the restaurant, In your calculations, round the variable rate per employee hour to the nearest cent. If required, round your final answers to the nearest cent, Required: 1. Using the high-low method, calculate the variable rate. per employee hour 2. Using the high-low method, calculate the fixed cost of labor. 3. Using the high-low method, construct the cost formula for total labor cost. Total labor cost * Employee hours)