Using Regression to Calculate Fixed Cost, Calculate the Variable Rate, Construct a Cast Formula, and Determine Budgeted Cost Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected Month Labor Cost Employee Hours January $7,000 360 February 0,140 550 March 9.899 630 Apri 9,787 590 May 0,490 480 Jun 7,450 350 July 0.400 570 August 330 Coefficients shown by a regression programs for Pizza Vesuvie's data are Intercept X Variable In your calculations round the variable rate per employee hour to the nearest cent Required: Use the results of repression to make the following calculations 1. Calculate the fixed cost of labor Calculate the variable rate per employee bour per employee hour 2. Construct the sust festmula for total labor cast Coefficients shown by a regression program for Pizza Vesuvio's data are: Intercept X Variable 4,481 8.32 In your calculations, round the variable rate per employee hour to the nearest cent. Required: Use the results of regression to make the following calculations: 1. Calculate the fixed cost of labor. Calculate the variable rate per employee hour. per employee hour 2. Construct the cost formula for total labor cost. Total labor cost- Employee hours) 3. Calculate the budgeted cost for next month, assuming that 705 employee hours are budgeted. Round answer to the nearest dollar