Please help, urgent !

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 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 Tani's Creations, Incorporated Income Statement Sales (28,000 units) For the Quarter Ended March 31 $ 1,152,600 Variable expenses Variable cost of goods sold $ 443,520 Variable selling and administrative 195,340 639/360 Contribution wardin 512,640 Fixed expenses: Fixed manufacturing overhead 254,400 Fixed selling and adeinistrative 270,260 524,640 Het operating loss $12.000) 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: Units produced 1,500 Units sold 20.000 Variable costs per unit Direct materials $7.20 Direct labor Variable manufacturing overhead $1.00 Variable selling and administrative $6.0 16.00 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 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 $1,152,000 Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 Sales (28,800 units) Variable expensest Variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses Fixed manufacturing overhead Fixed selling and administrative Net operating loss $ 443,520 195,840 639 360 512,640 254,400 270,218 524,640 $ 12,000) 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: 31,00 28,800 Units produced Units sold Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $17:20 $6.30 $ 1.90 $6.30 $.6.80 Variable manufacturing overhead $ 1.90 Variable selling and administrative 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 31,800 units but sold 34,800 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. Reg 1A Reg 13 Req 10 Req 3A Reg 38 Reg 30 Compute the unit product cost under absorption costing, (Round your answer to 2 decimal places) Unit product COST S 23 40 c. Reconcile the variable and absorption costing net operating income (loss) figures. 3. During the second quarter of operations, the company again produced 31.800 units but sold 34,800 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. Red 1A Reg 1B Req 10 Reg 3A Reg 3B Reg 3C What is the company's absorption costing net operating Income (loss) for the quarter? (Round your intermediate calculations to 2 decimal places.) Tami's Creations, Incorporated Absorption Costing income Statement Total Sales $ 1.152 000 Cost of goods sold 673,920 Contribution margin 478080 Selling and administrative expenses 195 840 Net operating income (los) $ 282 240 c. Reconcile the variable and absorption costing net operating income (loss) tigures. 3. During the second quarter of operations, the company again produced 31,800 units but sold 34.800 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. Reg 1A Reg 1B Req 1C Reg 3A Req 3B Reg 30 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 (055) $ 12.000 Add Fixed manufacturing overhead cost deferred in inventory under absorption costing $ 24,000 Absorption costing not operating income (los) 5 (12.000) Req 1A Reg 1B Reg 10 Reg 3A Reg 3B Reg 3C During the second quarter of operations, the company again produced 31,800 units but sold 34,800 units. What is the company's variable costing net operating income (loss) for the second quarter? Tami's Creations, Incorporated Variable Costing Income Statement Sales $ 1.392 000 Variable expenses Variable cost of goods sold Variable selling and administrative 0 1 392,000 Contribution margin Fixed expenses Fixed manufacturing overhead Fixed selling and administrative Net operating income (oss) Req 1A Reg 1B Reg 10 Reg 3A Reg 3B Reg 3C During the second quarter of operations, the company again produced 31,800 units but sold 34,800 units. What is the company's variable costing net operating income (loss) for the second quarter? Tami's Creations, Incorporated Variable Costing Income Statement Sales $ 1.392 000 Variable expenses Variable cost of goods sold Variable selling and administrative 0 1 392,000 Contribution margin Fixed expenses Fixed manufacturing overhead Fixed selling and administrative Net operating income (oss) Complete this question by entering your answers in the tabs below. Req 1A Reg 18 Req 1C Req 3A Req 3B Reg 3C During the second quarter of operations, the company again produced 31,800 units but sold 34,800 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, Incorporated Absorption Costing Income Statement Total Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income (oss) 0 LULOI HALUS 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. Reg 1A Reg 1B Req 1C Reg 3A Req 38 Req 3C During the second quarter of operations, the company again produced 31,800 units but sold 34,800 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)