Marty's Entrees produces frozen meals, which it sells for $8 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing ov on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from the company's first two months in busines Requirement 1. Compute the product cost per meal produced under absorption costing and under variable costing. Do this first for January and then for February. January February Absorption costing Variable costing Absorption Variable costing costing Total product cost Requirement 2a. Prepare separate monthly income statements for January and for February, using absorption costing. Marty's Entrees Income Statement (Absorption Costing) Less: Less: Month Ended January 31 February 28 rement 2b. Prepare Marty's Entrees' January and February income statements using v Marty's Entrees January February Contribution Margin Income Statement (Variable Costing) 1,400 meals 1,800 meals Month Ended January 31 2,000 meals 1,400 meals February 28 $5 $5 $1 $1 $700 $700 SS: $600 $600 Qu