Tami Tyler opened Tami's Creations, Inc., a small manufacturing company, at the beginning of the year Getting the com its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following income staten quarter was prepared by a friend who has just completed a course in managerial accounting at State University $ 1,124.eee Tami's Creations, Inc. Income Statement For the Quarter Ended March 31 Sales (28,188 units) Variable expenses: Variable cost of goods sold $ 458, e3e Variable selling and administrative 193, age Contribution margin Fixed expenses: Fixed manufacturing overhead 299900 Fixed selling and administrative 196.6 be Net operating loss 651 929 472 Ose 494,58 $ 22, See) Ms. Tyler is discouraged over the loss shown for the quarter particularly because she had planned to use the statement ass a bank loan. Another friend, a CPA, insists that the company should be using absorption costing rather than variable costing argues that if absorption costing had been used the company probably would have reported at least some profit for the quan At this point, Ms. Tyler is manufacturing only one product-a swimsuit Production and cost data relating to the swimsuit for the quarter follow: 331ee 28 19 Units produced Units sold Variable costs per unith Direct materiais Direct labor variable manufacturing civerhead Vanzable selling and administrative $ 2.50 Sie $ 1.7 $6.99 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 foss) 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 33.100 units but sold 38.100 units. Assume no change in total fixed costs. a. What is the company's variable costing net operating income doss) for the second quarter? b. What is the company's absorption costing met operating income foss) For the second quarter? c. Reconcile the variable costing and absorption costing met operating incomes for the second quarter Complete this question by entering your answers in the tabs below. Red LA Res 1B Rea 10 Reg BA Red 3B Compute the unit produce cost under absorption costing. (Round your answer to 2 decimal places.) Red 30 Urut productos als The Req 18 )