Margarita's Foods produces frozen meals that it sells for $10 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 Margarita'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.) Absorption Variable costing costing Total product cost per meal Requirement 2a. Prepare Margarita's Foods's January income statement using absorption costing Margarita's Foods Income Statement (Absorption Costing) Month Ended January 31, 2018 1 Operating Income Requirement 2b. Prepare Margarita's Foods's January income statement using variable costing Margarita's Foods Income Statement (Variatile Costing) Month Ended January 31, 2018 023 pters 18-21 [Required] Question 17 of 21 Submit test Macbook TYO a A - - 2 4 B 6 7 B 9 O 4 W E R T Y U I P S D F G H J Z x C V B N M command K L >> ? X x command option " Y 3