Show All Your Works For Your Response: Fill Out 3 White Blanks Below Larry'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: 0 Data Table - X January Sales ...... 1,400 meals 2,000 meals February 1,600 meals 1,400 meals $ 3 Production ..... Variable manufacturing expense per meal ....... Sales commission expense per meal .......... Total fixed manufacturing overhead ....... ...............$ Total fixed marketing and administrative expenses ....$ 700 600 $ $ 700 600 Print Done Income Statement (Absorption Costing) Month Ended January 31 February 28 Sales revenue $ 9,800 $ 11,200 Less: Cost of goods sold 4,690 Gross profit 5,110 Less: Operating expenses 2,000 2.200 Operating income 3,110