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. $ 1,160,000 Tami's Creations, Inc. Income Statement For the Quarter Ended March 31 Sales (29,000 units) Variable expenses: Variable cost of goods sold $ 490, 100 Variable selling and administrative 197,200 Contribution margin Fixed expenses: Fixed manufacturing overhead 288,000 Fixed selling and administrative 198, 200 Net operating loss 687,300 472,700 486,200 $ 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-a swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: 32,000 29,000 Units produced Units sold Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 7.20 $ 7.90 $ 1.80 $ 6.80 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req Req 3B Req 3C During the second quarter of operations, the company again produced 32,000 units but sold 35,000 units. What is the company's variable costing net operating income (loss) for the second quarter? Tami's Creations, Inc. Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold Variable selling and administrative 0 0 Gross margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative 0 Net operating income (loss) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req Req 3B Req 3C During the second quarter of operations, the company again produced 32,000 units but sold 35,000 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 0 Net operating income (loss) Req 3A Req 3C >