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Problem 6-23 (Algo) Absorption and Variable Costing; Production Constant, Sales Fluctuate [LO6-1, LO6-2, LO6-3] Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable straln on Ms. Tyler's personal finances. The following income statement for the first quarter was prepared by a friend who just completed a course in managerial occounting at State University. Ms. Tyler is discouraged over the loss shown for the quarter, particularly bocause she hoped to use the statement as support for a bank loan. Another friend, a CPA. insists the company should be using absorption costing rather than varlable costing and claims if obsorption costing had been used, the company probably would have reported a profit for the quarter, At this point. Ms. Tyler makes only one product -0 swimsult. Production and cost data for the first quarter follow: Complete this question by entering your answers in the tabs below. During the second quarter of operations, the company again produced 31,700 units but sold 34,700 units. (Assume no change in total fixed costs.) What is the company's variable costing net operating income (loss) for the second quarter? Note: Round your Intermediate calculations to 2 decimal olaces. 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 compary again produced 3,700 untes but sold 34,700 units, (Assume no chonge in fotol fixed costs) a. What is the company's varlable costing net operating income (loss) for the second quarter? b. What is the company/s absorption costing net operating income (loss) for the socond quarter? c. Peconcile the varioble costing and absorption costing net operating incomes (osses) for the second quartet. Complete this question by entering your answers in the tabs below