Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period that Differs from the Data Period Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost Employee Hours January $6,800 420 February 7,940 610 March 9,699 730 April 9,587 670 May B,290 540 June 7,250 410 July 9,290 630 August 7,331 370 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $4,897 + ($6,58 x Employee Hours) This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Assume that 4,200 employee hours are budgeted for the coming year. Use the total labor cost formula to make the following calculations: 1. Calculate total variable labor cost for the coming year. Round your answer to the nearest dollar 2. Calculate total fixed labor cost for the coming year. Round your answer to the nearest dollar. 3. Calculate total labor cost for the coming year. Round your answer to the nearest dollar