ami Tyler opened Tamis Creations, incorporated, a small manufacturing company, at the beginning of the year. Getting the company hrough its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following income statement for he first quarter was prepared by a friend who has just completed a course in managerial accounting at State University. Ms. Tyler is discouraged over the loss shown for the quarter, particularly becouse she had planned to use the statement as support for 3 bank loan. Another friend, a CPA, insists that the company should be using obsorption costing rather than variable costing and brgues that if absorption costing had been used the company probably would have reported at least some profit for the quarter. At this point, Ms. Tyler is manufacturing only one product-a swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: Required: 2. Complete the following: 3. Compute the unit product cost under absorption costing. b. What is the company's absorption costing net operating income (loss) for the quarter? c. Reconclie the variable and absorption costing net operating income (loss) fgures. 3. During the second quarter of operations, the company again produced 31,600 units but sold 34,600 units. (Assume no change in fotal fixed costs) 3. What is the company's variable costing net operating income (loss) for the second quarter? 3. What is the company's absorption costing net operating income (oss) for the second quarter? F. Reconcile the variable costing and absorption costing net operating incomes (losses) for the second quarter. Compute the unit product cost under absorption costing. (Round your answer to 2 decin What is the company's absorption costing net operating income (loss) for the quarter? (Rou to 2 decimal places.) Reconcile the variable and absorption costing net operating income (loss) figures. (Losses and deduct as a negative.) During the second quarter of operations, the company again produced 31,600 units but sold 34,600 units. (Assume no change in total fixed costs.) What is the company's variable costing net operating income (loss) for the second quarter? (Round your intermediate calculations to 2 decimal places.) Complete this question by entering your answers in the tabs below. During the second quarter of operations, the company again produced 31,600 units but sold 34,600 units. (Assume no change in total fixed costs.) What is the company's absorption costing net operating income (loss) for the second quarter? (Round your intermediate calculations to 2 decimal places.) During the second quarter of operations, the company again produced 31,600 units but sold 34,600 units. (Assume no change in total fixed costs.) Reconcile the variable costing and absorption costing net operating incomes (losses) for the second quarter. (Losses and deductions should be entered as a negative.)
