Rosetta's Foods produces frozen meals that it sells for $13 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 Rosetta'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) Absorption costing Variable costing Total product cost per meal Requirement 2a. Prepare Rosetta's Foods's January income statement using absorption costing. Rosetta's Foods Income Statement (Absorption Costing) Month Ended January 31 Operating Income Requirement 2b. Prepare Rosetta's Foods's January income statement using variable costing. Requirement 2b. Prepare Rosetta's Foods's January income statement using variable costing. Rosetta's Foods Income Statement (Variable Costing) Month Ended January 31 Operating Income Requirement 3. Is operating income higher unde In January, absorption costing operating income equals exceeds is less than variable costing in January? variable costing operating income. ata table January Units produced and sold: Sales Production 800 meals 1,100 meals Variable manufacturing cost per meal $ 6 Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs 2 385 400 Print Done