I need help with these last few questions.

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P6-66A (similar to) Jason's Meas produces frozen meas, which it sells for $8 each. The company uses the FIFO inventory costing method, and it computes a new montly Exed manufacturing overhead rate based on the actual number of mea's produced that month. All costs and production leve the company's frst two months in business. (click the icon to view the data.) 1. Compute the product cost per meal produced under absorption costing and under variable costing. Do this first for January and then for February 2. Prepare separate monthly income statements for January and for February, using the olowing: 3. s operating income highor under absorption costing or variable cosing in January? In February? Explain the pattern of difterences in operating income based on absorption costing versus variable costing. Requirement 1. Compute the product cost per meal produced under abeorption costing and under variable coeting. Do this first for January and then for February. a. Absorption costing b. Variable costing Absorption Variable Absorption Variable costing Total product cost 3.40 S 3.00 S 3.75 $ 3.00 Requirement 2a. Prepare separate monthly income statements for January and for February using a Data Table Jason's Meals Income Statement (Absorption Costing) Month Ended February January 31 February 28 1,000 meals 1500 meals 1,200 meals Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Requirement 2b. Prepare Jason's Meals' January and February income statements using variable costing. 8,000 S 9,600 4.325 600 meals Variable manufacturing expense per meal Sales commiss on expense per meal Total fxed manufactuning overhead Total fxed markedng and administratve expenses 2.900 2.375 2.500 S 600 S 600 2.100 S 500 500 Print Done Jason's Meals Contribution Margin Income Statement (Variable Costing) Month Ended Sales revenue 9,600 Less: Variable expenses bution margin 3,000 ng Less: Fixed expenses Fixed manufacturing overhead Fixed operating expenses 600 600 500 500 Choose from any list or enter any number in the input fields and then cick Check Answer Clear All