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Data table Requirements 1. Compule the product cost per meal produced under absorplon conting and under variable costing 2. Prepare income statements for January using a. absorption costing b. variable costing 3. Is operating income higher under aboorption cooting or variable cooting in January? Claudia's Foods produces frozen meals that it sells for $7 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 Claudia's Foods's first month in business: (Click the icon to view the data.) Read the eauirements. Requirement 1. Compute the product cost per meal produced under absorption costing and under variable costing. (Round your answers to the nearest cent.)