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X P21-27A (similar to) Question Help Alana's Foods produces frozen meals that it sells for $12 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 Alana'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 Enter any number in the edit fields and then click Check Answer. 2 parts 3 remaining Clear All Check Answer Requirements 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? Print Print Done Done i Data Table January 2018 Units produced and sold: Sales 800 meals 1,100 meals Production Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead 385 Total fixed selling and administrative costs 700 Print Print Done Done ]