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 muma in wis olal accounting at State University. M5. Iyler 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 then variable costing ond argues that if absorption costing had been used the company probably would have reported at least some profit for the quarter, At this point, Tysier is manufecturing only one product-a swimsult Production and cost data reiating to the swimsut for the first 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 (loss) 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 31,800 units but sold 34,800 units. (Assume no change in 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. Compute the unit product cost under absorption costing. (Round your answer to 2 decimal placen.)