Owen's Foods produces frozen meals, which it sells for $7 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based 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 business BEE (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. Do this first for January and then for February January Absorption Variable costing costing Total product cost Data Table - X January February Sales.... Production. Sales commission expense per meal Total fixed manufacturing overhead, 1,500 meals 1,900 meals 2,000 meals 1,600 meals Variable manufacturing expense per meal $3 $3 $2 $2 $800 $800 Total fixed marketing and administrative expenses $700 $700 Print Done 8 Parts remaining Type here to search Clear All Check Answer O