Question: Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months

for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past

Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for Budgeted Output Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected: Month Labor Cost Employee Hours January $7,300 350 February $10,199 540 March $8,440 630 April $10,087 600 May $8,790 470 June $7,831 340 July $9,790 560 August $7,750 300 Assume that this information was used to construct the following formula for monthly labor cost. Total Labor Cost = $7123 + ($2.09 x Employee Hours) Required: Assume that 705 employee hours are budgeted for the month of September. Use the total labor cost formula for the 1. Calculate total variable labor cost for September. Round your answer to nearest whole number Required: Assume that 705 employee hours are budgeted for the month of September. Use the total labor cost formula for the following calculations: 1. Calculate total variable labor cost for September. Round your answer to nearest whole number. $ 2. Calculate total labor cost for September. Round your answer to nearest whole number

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