Chapter 3 Homework Assignment (p Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvian makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,490 520 February 7,000 600 March 7,531 640 April 8,140 480 May 9,787 560 June 8,490 440 July 13,132 720 August 7,500 400 Pizza Vesuvius 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. $ 19.16 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 = $ + ($ x Employee hours) Check My Work 3 more Check My Work uses remaining. Previous Next Assignment Score: 10% All work saved Email Instru