Claudia's Foods produces frozen meals that it sells for $12 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 Claudia's Foods's first month in business: (Click the icon to view the data.) Read the requirements Data Table 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 January 2018 Units produced and sold: Requirement 2a. Prepare Claudia's Foods's January income statement using absorption costing. Sales 850 meals Claudia's Foods Production 1,050 meals $ 5 Income Statement (Absorption Costing) Month Ended January 31, 2018 2 Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs 315 400 Print Done Operating Income Choose from any list or enter any number in the input fields and then continue to the next