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 9,290 460 February 6,800 530 March 7,331 560 April 7,940 420 May 9,587 490 June 8,290 390 July 12,004 630 August 7,300 350 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: high-low the fixed cost of labor. 1. Using $ 2. Using the high-low method, calculate the variable rate. $ per employee hour 3. Using the high-low method, construct the cost formula for total labor cost