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Alana's Foods produces frozen meals that it sells for $9 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 4.45 Requirement 2a. Prepare Alana's Foods's January income statement using absorption costing. Alana's Foods Income Statement (Absorption Costing) Month Ended January 31, 2018 Net Sales Revenue Operating IncomeRequirement 2b. Prepare Alana's Foods's January income statement using variable costing. i Data Table X Alana's Foods Income Statement (Variable Costing) Month Ended January 31, 2018 January 2018 Units produced and sold: Sales 1,000 meals Production 1,400 meals Variable manufacturing cost per meal Sales commission cost per meal Operating Income Total fixed manufacturing overhead 630 Requirement 3. Is operating income higher under absorption costing or variable costing in January? Total fixed selling and administrative costs 750 In January, absorption costing operating income variable costing operating income. Print Done Choose from any list or enter any number in the input fields and then continue to the next question.