Maria's Foods produces frozen meals that it sells for $11 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 Maria's Foods's firs month in business: B Click the icon to view the data.) Read the requirements Requirement 1. Compute the product cost per heal 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 levels are exactly as planned. The followir i Data Table Ds four January 2018 bs Units produced and sold: ca Sales 1,000 meals Production 1,400 meals 5 1 Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs 630 on 400 1, Print Done 0 Requirements produd nsv 1. Compute the product cost per meal produced under absorption costing and under variable costing. 2. Prepare income statements for January 2018 using: a. absorption costing. b. variable costing. 3. Is operating income higher under absorption costing or variable costing in January? ia's Fa Food Absor anuar Print Done Requirement 2a. Prepare Maria's Foods's January income statement using absorption costing. Maria's Foods Income Statement (Absorption Costing) Month Ended January 31, 2018 + Operating Income Requirement 2b. Prepare Maria's Foods's January income statement using variable costing. Maria's Foods Income Statement (Variable Costing) Month Ended January 31, 2018 Operating Income Requirement 2a. Prepare Maria's Foods's January income s Maria's Foods Income Statement (Absorption Costing) Month Ended January 31, 2018 Contribution Margin Cost of Goods Sold Fixed Costs Gross Profit juary income sta Net Sales Revenue Selling and Administrative Costs Variable Costs ig) Month Ended January 31, 2018 Operating Income Requirement 3. Is operating income higher under absorption cost Requirement 2b. Prepare Maria's Foods's Januar Maria's Foods Income Statement (Variable Costing) Month Ended January 31, 2018 Contribution Margin Cost of Goods Sold Fixed Costs Gross Profit under at Net Sales Revenue Selling and Administrative Costs ome Variable Costs Choose from any list or enter any number in the in Requirement 2b. Prepare Maria's Foods's January income statement using variable costing. Maria'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