Tami Tyler opened Tami's Creations, Inc., 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, $ 1,156,000 Tami's Creations, Inc. Income Statement For the Quarter Ended March 31 Sales (28,900 units) Variable expenses: Variable cost of goods sold $ 465,290 Variable selling and administrative 196,520 Contribution margin Pixed expensest Fixed manufacturing overhead 287.100 Pixed selling and administrative 220.590 Net operating loss 661,810 494, 190 $ 507,690 13,500) 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- quarter follow: swimsuit. Production and cost data relating to the swimsuit for the first Units produced 31,900 HW Saved Help Sa Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Reg 1C Reg 3A Reg 3B Req 3C During the second quarter of operations, the company again produced 31,900 units but sold 34,900 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, Inc. Absorption Costing Income Statement Total Sales Cost of goods sold e Gross margin Selling and administrative expenses Net operating income (loss) 0