hapter 6 i Help S 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 31,200 units but sold 34,200 units. (Assume no change in total fixed costs.) a. 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 (loss) for the second quarter? c. Reconcile the variable costing and absorption costing net operating incomes for the second quarter. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 10 Req 3A Req 3B Req 3C Compute the unit product cost under absorption costing. (Round your answer to 2 decimal places. Unit product cost s 24.20 Req 18 Hrex 5 of 6 NextComplete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 3A Req 3B Req 3C to 2 decimal places.) What is the company's absorption costing net operating income (loss) for the quarter? (Round your intermediate calculations Tami's Creations, Inc. Absorption Costing Income Statement Total Sales $ 1,128,000 Cost of goods sold 682,440 Gross margin 445,560 Selling and administrative expenses 433,560 Net operating income (loss) $ (433,520) Prey 5 of 6 .Next >pter 6 i Saved Help Save & C Tami Tyler opened Tami's Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed 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 State University. Tami's Creations, Inc . Income Statement Sales (28, 200 units) for the Quarter Ended March 31 Variable expenses : $ 1, 128,606 variable cost of goods sold $ 456, 840 Variable selling and administrative 197, 406 654, 240 Contribution margin 473, 760 Fixed expenses: Fixed manufacturing overhead 249, 600 Fixed selling and administrative 236, 160 485 , 760 Net operating loss $ ( 12, 600 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 rather than variable costing and argues 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: Req 1A Req 18 Req 1C Req 3A Req 3B Reg ac During the second quarter of operations, the company again produced 31,200 units but sold 34,200 units. Reconcile the variable costing and absorption costing net operating incomes (losses) for the second quarter. (Losses and deductions should be entered as a negative.) Reconciliation of Variable Costing and Absorption Costing Net Operating incomes Variable costing net operating income (loss) Absorption costing net operating income (loss) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 3A Req 3B Req 3C Reconcile the variable and absorption costing net operating income (loss) figures. (Losses and deductions should be entered as a negative.) Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Variable costing net operating income (loss) Add: Fixed manufacturing overhead cost deferred in inventory under absorption costing Absorption costing net operating income (loss) Req 1B Reg 3A 99+apter 6 i Saved Help Save 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: Units produced Units sold 31, 200 28, 200 Variable costs per unit: Direct materials 7 . 50 Direct labor $ 7. 20 Variable manufacturing overhead $ 1.50 Variable selling and administrative $ 7.00 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 31,200 units but sold 34,200 units. (Assume no change in total fixed costs.) a. 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 (loss) for the second quarter? c. Reconcile the variable costing and absorption costing net operating incomes for the second quarter. Complete this question by entering your answers in the tabs below. Prey 5 Nextpter 6 Saved Req 1A Req 1B Req 1C Reg 3A 1 3B Reg 3C During the second quarter of the company again produced 31,200 Inits but sold 34,200 units. What is the company's variable costing net operating income (loss) for the second quarter Tami's Creations, Inc. e Costing Income Statemen Sales Variable expenses Variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses Fixed selling and administrative Net operating income (loss) 6 Next >apter 6 i Saved Req 1A Req 1B Req 1C Req 3A Req 3B Reg 3C During the second quarter of operations, the company again produced 31,200 units but sold 34,200 units. What is the company's absorption costing net operating income (loss) for the second quarter? ( Round your intermediate calculations to 2 decimal places. Tami's Creations, Inc. Absorption Costing Income Statement Total Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income (loss