Linda'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 Linda's Foods's first month in business: (Click the icon to view the data.) Read the requirements Requirement 1. Compute the product cost per meal produced under absorpt Data Table January 2018 Absorption Variable costing costing January 2018 Total product cost per meal Units produced and sold: Sales Requirement 2a. Prepare Linda's Foods's January income statement using 1,000 meals Production 1,200 meals Linda's Foods $ 3 Income Statement (Absorption Costing) Month Ended January 31, 2018 Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs 660 500 Print Done Choose from any list or enter any number in the input fields and then continue to the next question. Linda'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 Linda's Foods's first month in business: (Click the icon to view the data.) Read the requirements. Requirement 1. Compute the product cost per meal produced under absorption costing and under variable costing. (Round your answers to the nearest cent.) January 2018 Absorption Variable costing costing Total product cost per meal Requirement 2a. Prepare Linda's Foods's January income statement using absorption costing. Linda's Foods Income Statement (Absorption Costing) Month Ended January 31, 2018 Choose from any list or enter any number in the input fields and then continue to the next question. Operating Income Requirement 2b. Prepare Linda's Foods's January income statement using variable costing. Linda's Foods Income Statement (Variable Costing) Month Ended January 31, 2018 equals Operating Income exceeds Requirement 3. Is operating income higher unde is less than or variable costing in January? In January, absorption costing operating income variable costing operating income. Choose from any list or enter any number in the input fields and then continue to the next question. Operating Income Requirement 2b. Prepare Linda's Foods's January income statement using variable costing. Linda's Foods Income Statement (Variable Costing) Month Ended January 31, 2018 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. Choose from any list or enter any number in the input fields and then continue to the next