please explain this step by step with formulas

Tami Tyler opened Tami's Creations, Incorporated, a smail 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 managenal accounting at State University. 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 ond 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 swimisut for the first quarter follow. Required: 1. Complete the following. a. Compute the unt 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 operatons, the company again produced 31,500 units but sold 34,500 units. (Assume no change in total fixed costs.) a. What is the company's vanable 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 (losses) for the second quarter Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support 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: 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 31,500 units but sold 34,500 units. (Assume no change in total fixed costs.) 0. 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 (ioss) for the second quarter? c. Reconclie the variable costing and absorption costing net operating incomes (losses) for the second quarter. Complete this question by entering your answers in the tabs below. Compute the unit product cost under absorption costing. (Round your answer to 2 decimal places.) Requlred: 1. Complete the following a. Compute the unt product cost under absorption costing. b. What is the compeny's absorption cocting net operating iacome flossi for the custer? c. Ripconc ie the variable and obsorption costing net operating income 0osti figures. 3. Doring the second quatter of operations, the company agali produced 31,500 units but sola 34,500 units (Assume no chenge n tota. fixed costsi. a. What is the company's variable costing net operating income boss) for the second auster? b. What is the company's absorption costing net operating incame joss for the secand quarter? c. Reconclle the vartable costing and absorption costing net opefating tncomes losses for the second cuarter Complete this question by entering your answers in the tabs below. What is the compeny's absorption costing net operating insome (iopo) for the cuartee geaur your nfermediate calcuiatians to 2 desimul places ? 1. Complete the following a. Compute the unt product cost under absorption costing. b. What is the company's abrorption costing net operating income (loss) for the quarter? c. Reconcile the vadable and absorption costing net operating income floss, figures. 3. During the second cuarter of operotens, the company again produced 31,500 units but sold 34.500 units (Assume no change in totol fixed costs.j a. What is the company's vartable costing net operating income (loss) for the second quarter? b. What is the company's absorption costhng net operating income (loss) for the second quarter? c. Reconclle the variable costing and absorption costing fiet operating incomes fosses) tor the second cuanet Complete this question by entering your answers in the tabs below. Reconcile the variable and absonksion costing nt operatifgiecome (loss) figures. (Rosses and deductions theula be moter ed As a negative) Complete this question by entering your answers in the tabs below. During the second quarter of opcrations, the company again produced 31,500 units but sold 34,500 unite. (Assume ne change in total foced costs.) What is the compony's variable costing net operating income (loss) for the second querter? (Rourd rour intermediate celculations to 2 decmal ploces.) 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. Reconclie the variable costing and absorption costing net bperating incomes (losses) for the second auarter. Complete this question by entering your answers in the tabs below. During the second quarter of operations, the company again produced 31,500 units but sold 34,500 units. (Acsume no chang in total fixed costs.) What is the companys absorption costing net operating income (loss) for the second quarter? (Round your intermediate calculations to 2 decimial glaces.) Required: 1. Complete the follewing a. Compure the unt prodact cost under absorpton costing. b. What is the comparry's absorption costing net ogeroung income flossi for the quaner? c. Reconcle the variable and absorption cosang fet operating income cossi figures 3. During the second quarter of operabons, the company sgain produced 31.500 unts but sold 34500 inet iassume no chiange in total foed costs.) a. What is the company's variable costing net operating income (loss) for the second quarter? b. What is the company's obsorption costing net operating income (loss) fag the secand quarter? c. Reconclle the vartable costing and absocption costing net operating incomes fosses) for the second quaref Complete this question by entering your answers in the tabs below. During the second quarter of operations, the compant again productd 31,500 units but sold 34,500 unta. (Assume ne change in total fored costs.) Reconcile the variable costing and absorption sosting tiet opecating incomes (loises) for the secund guarter. (Losses and deductions should be eitered as a gegatye