AT&T PROBLEM V 9:41 PM 72% Gia's Foods produces frozen meals that it sells for $8 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 Gia's Foods' first month in business anua Units produced and sold Sales 950 meals Production 1,150 meals Variable manufacturing cost per meals 4 Sales commission cost per meal Total fixed manufacturing overhead 690 Total fixed selling and administrative costs 700 Requirements Prepare income statements for January 2016 using a. variable costing