Using High-Low to Calculate Fixed Cost, Calculate the Variable Rate, and Construct a Cost Function Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost($) Employee Hours January 9,690 530 February 7,200 620 March 7,731 660 April 8,340 490 May 9,987 570 June 8,690 450 13,508 740 7,700 July August 410 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 answ nearest cent. Required: 1. Using the high-low method, calculate the variable rate. per employee hour 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 = $ +($ x Employee hours)