At this point, Ms. Tyler is manufacturing only one product-a swimsuit. Production and cost data releting to the swimsuit for the first quarter follow: Units produced Units sold Variable costs per unit: 33,450 Direct materials Direct labor Variable manufacturing overhead$2.00 Variable selling and administrative 28,450 $ 5.70 $6.85 Required: 1. Complete the following: a. Compute the unit product cost under absorption costing b. What is the company's absorption costing net operating income (loss) for the quarter? c. Reconcile the variable and absorption costing net operating income (loss) figures. 3. During the second quarter of operations, the company again produced 33,450 units but sold 38,450 units. (Assume ne changein total fixed costs.) o. What is the company's variable costing net operating income (loss) for the second quarter? b. What is the company's absorption costing net operating income (los C. Recon cile the variable costing ption costing net operating incomes for the second quarter. Complete this question by entering your answers in the tabs below Tami Tyler opened Tami's Creations, inc., a small manufacturing company, at the beginning of the year. Getting the compeny through its first quarter of operations piaced a considerable strain on Ms. Tyler's personal finances. The following Income statement for the first quarter was prepared by a friend who has just completed a course in managerial accounting at Stote University Tami's Creations, Inc. Income Statement For the Quarter Ended March 31 Sales (28,450 units) Variable expenses: $1,138,ee0 Variable cost of goods sold Variable selling and administrative 426,750 194,882 621,632 Contribution margin Fixed expenses: 516,368 Fixed manufacturing overhead Fixed selling and administrative 331,155 209.962 541,118 24,750) Net operating loss Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support for a bank loan. Another friend, a CPA, insists that the company should be using absorption costing Tather than variable costing and argues that if absorption costing had been used the company probably would have reported at least some proft for the quarter At this point, Ms. Tyler is manufecturing only one product-o swimsuit. Production and cost data relating to the swimsuit for the first quarter follow