Tami Tyer opened Tami's Creations, linc, a small manufacturing company, ot the beginning of the year. Getting the company through its first quarter of operations placed a considerablo strain on Ms. Tylec's persanal financos. The following income statement for the first quarter was prepared by o friend who has just completed a course in managerial accounting at State University, Ms. Tyer is discouraged over the loss showa for the quarter, particularly because she had planned to use the starement as support for a banklaan. Another frlend, a CPA, inslats that the company should be using absorption costing rather than varlable costing and argues that if absorption costing had boen vied the company probably would hove reported at least some profit for the quarter. At this point, Ms Tyler is manufocturng ony ooe product-a swimsut. Production and cost dato relating to the wwittsuit for the first auarterfollow. At this point, Ms. Tyler is manufacturing only one product-a swimsiult. Production and cost data relating to the swimsuit for the first quarter follow: Required: 1. Complete the following: e. Compute the unit product cost under absorption costing. b. Whot is the companys absorption costing net operating income (loss) for the quarter? c. Peconclie the variable and absorption cotting net operating income (loss) figures. 3. During the second quater of operetions, the company again produced 31,300 units but sold 34,300 unts. (Assume no change in total fixed costs) a. What is the company's variabie casting net operating income foss) for the second quarter? b. What is the companys absorption costing net oparoting income (oss) for the second quarter? e. Reconcile the variable costing and absorptian costing net operating incornes for the second quater. Complete this question by entering your answers in the tabs below. 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. During the second quarter of operations, the company again produced 31,300 units but sold 34,300 units. Reconcile the variable costing and absorption costing net operating incomes (losses) for the second quarter. (Losses and deductione should be entered as a negative.) Complete this question by entering your answers in the tabs below. During the second quarter of operntions, the company again produced 31,300 units but sold 34,300 units. What is the company's absorption costing net operating income (loss) for the second quarten (Round your intermediate calculations to 2 decimal places.) compiete this question oy entering your answers in the taos beiow. During the second quarter of operations, the company again produced 31,300 units but sold 34,300 units, What is the company's varlable costing net operating income (loss) for the second quarter
