Alana's Foods produces frozen meals that it sells for $7 each. The company computes a new monthly fixed manufacturing overhead allocation rate based on the planned number of meals to be produced that month. Assume all costs and production levels are exactly as planned. The following data are from Alana's Foods's first month in business: B (Click the icon to view the data.) Read the requirements SER Requirement 1. Compute the product cost per meal produced under absorption costing and under variable costing. (Round your answers to the nearest cent.) Absorption Variable costing costing Total product cost per meal Requirement 2a. Prepare Alana's Foods's January income statement using absorption costing. Data table Alana's Foods Income Statement (Absorption Costing) Month Ended January 31, 2018 January 2018 Units produced and sold: Sales 1,000 meals 1,400 meals S 3 Operating Income Production Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs 1 700 Requirement 2b. Prepare Alana's Foods's January income statement using variable costing. 550 Alana's Foods Income Statement (Variable Costing) Month Ended January 31, 2018 Print Done Operating Income Requirement 3. Is operating income higher under absorption costing or variable costing in January? In January, absorption costing operating income variable costing operating income