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Gia's Foods produces frozen meals, which it sells for S8 each. The company computes a...

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Accounting

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Gia's Foods produces frozen meals, which it sells for S8 each. The company computes a new monthly fixed manufacturing overhead rate based on the planned number of meals to be produced that month. All costs and production levels are exactly as planned. The following data are from Gia's Foods first month in business Sales Production Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead January 2007 1,00o meals 1,400 meal:s $4.00 $1.00 $700 tal fixed marketing and administrative costs Requirements: i) Compute the product cost per meal produced under absorption costing and under ii) Prepare the income statement for January 2007 using variable costing Ili) List three situations n which marginal costng, as a technique, aids decision-making. variable costing

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