Question 1, P21-27A (si... Part 1 of 4 HW Score: 0%, 0 of 21 points Points: 0 of 21 Sa Stella's Foods produces frozen meals that it sells for $6 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 Stella'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 Variable costing costing Total product cost per meal ufacturing overhead allocation rat based on Ume all costs and production levels are exactly as planned. The following data are from Stella's Foc th in (Click 9 Data table d the January 2018 quiren ting. Units produced and sold: Sales 1,000 meals 1,400 meals Production tal pro $ 2 1 Variable manufacturing cost per meal Sales commission cost per meal Total fixed manufacturing overhead Total fixed selling and administrative costs 630 450 Print Done 1 eal X Requirements Real osti Total 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 Done