K Margarita's Foods produces frozen meals that it sells for $6 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 Marganta's Foods's first month in business (Click the icon to view the data) Read the requirements. Income Statement (Absorption Costing) Month Ended January 31 Operating Income Requirement 2b. Prepare Margarita's Foods's January income statement using Margarita's Foods Income Statement (Variable Costing) Month Ended January 31 ww* Data table Units produced and sold. Sales Production A Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs Print Done January - 1,000 meals 1,400 meals 2 1 700 750 X

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