Data table Requirement 1. Compute the product cost per meal produced under absorption costing and under variable costing. Do this first for January and then for February. Requirement 2a. Prepare separate monthly income statements for January and for February, using absorption costing. Owen's Foods Income Statement (Absorption Costing) Month Ended Requirements 1. Compute the product cost per meal produced under absorption costing and under variable costing. Do this first for January and then for February. 2. Prepare separate monthly income statements for January and for February, using the following: a. Absorption costing b. Variable costing. 3. Is operating income higher under absorption costing or variable costing in January? In February? Explain the pattern of differences in operating income based on absorption costing versus variable costing. Requirement 2b. Prepare Owen's Foods' January and February income statements using variable costing. Owen's Foods Contribution Margin Income Statement (Variable Costing) Month Ended