question 3

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part 2

part 3

part 4

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part 6

Check B. 10:37 Book 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 For the Quarter Ended March 31 Sales (28,900 units) 5 1,156,000 Variable expenses Variable cost of goods sold $ 456,620 Variable selling and administrative 193,630 650,250 Contribution margin Fixed expen Fixed manufacturing overhead 255,200 Pixell Selling and administrative 202.559 517250 net operating loss $12,000) Ms Tyler is discouraged over the tous 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. This manufacturing only one produca swimsuit, Production and cost data relating to the swimsuit for the first quarter follow 505,750 31.00 20,000 un produced United Variables per units Direct terus 37:50 Mc Chec 10:20 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 31,900 Units sold 28,900 Variable costs per unit Direct materials Direct labor Variable manufacturing overhead 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 (ons) for the quarter? c Reconcile the variable and absorption costing net operating income doss) figures During the second quarter of operations, the company again produced 31 900 units but sold 34 900 units (Assume no change in total fixed costs) What is the company's variable costing net operating income (1055) 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. 5 7.50 56:40 $ 1.90 $ 6.70 Comolete this question by enterina vour answers in the tabs below. c. Reconcile the variable and absorption costing net operating income (loss) figures. 3. During the second quarter of operations, the company again produced 31,900 units but sold 34,900 units. (Assume 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 (oss) 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 Reg 1C Req 3A Rog 3B Req 30 Compute the unit product cost under absorption costing (Round your answer to 2 decimal places.) Unit product cost Req 18> ho Saved Help *** w 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 Reg 10 Reg Req 38 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 Net operating income (lon) 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 Req 1B Rebric Reg Reg 3B Reg 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 coating net operating income (1018) Absorption costing net operating income (100) Reg 1A Reg 1B Req 1C Red 3A Reg 38 Req3c 129.01 During the second quarter of operations, the company again produced 31,900 units but sold 34,900 units. What is the company's variable costing net operating Income (loss) for the second quarter? Tami's Creations, Incorporated Variable Costing Income Starthent DO Net operating Income (os) Complete this question by entering your answers in the tabs below. Reg 1A Req 18 Reg 10 Reg 3A Reg 30 Reg 30 During the second quarter of operations, the company again produced 31,900 units but sold 34,900 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)