Using regression to Calculate Fixed Cost, Calculate the Variable Rate, Construct a Cost Formula, and Determine Budgeted Cost Pizza Vesuvianakes specialty pizzas. Data for the past 8 months were calculated: Month Labor Cost Employee Hours January 7,000.00 360 February 8,140.00 550 March 9,899.00 630 April 9,787.00 610 May 8,490.00 480 June 7,450.00 350 July 9,490.00 570 August 7,531.00 310 Coefficients shown by a regression program for Pizza Vesuvius data are: Intercept 4,517 X Variable 8.2 In your calculations, round the variable rate per employee hour to the nearest cent. Required: 1. Calculate the fixed cost labor Calulate the variable rate per employee hour 2. Construct the cost formula for total labor cost. Total labor cost= $ + ($ x employee hours) 3. Calculate the budgeted cost for the next month, assuming that 675 employee hours are budgeted