Tami Tyler opened Tami's Creations, Incorporated, 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 hasjust completed a course in managerial accounting at State University. Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 Sales (28,688 units) $ 1,144,888 Variable expenses: Variable cost of goods sold $ 454,748 Variable selling and administrative 197,348 652,838 Contribution margin 491,928 Fixed expenses: Fixed manufacturing overhead 252,888 Fixed selling and administrative 251,128 583,928 Net operating loss $ ( 12,999) 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 producta swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: Units produced 31,688 Units sold 28,688 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative mamas ml'm'd tommm (9000 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 31,600 units but sold 34,600 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 (losses) for the second quarter. Complete this question by entering your answers in the tabs below. Req 1A Req iB Req 1C Req 3A Req 33 Req 3C What is the company's absorption costing net operating income (loss) for the quarter? (Round your intermediate calculations to 2 decimal places.) Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerabie strain on Ms. Tyler's personal finances. The following income statement for the first quarter was prepared by a friend who hasjust completed a course in managerial accounting at State University. Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 Sales (28,666 units) $ 1,144,666 Variable expenses: Variable cost of goods sold $ 454,746 Variable selling and administrative 197,346 652,686 Contribution margin 491,926 Fixed expenses: Fixed manufacturing overhead 252,866 Fixed selling and administrative 251,126 563,926 Net operating 1055 $ ( 12,666) 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 producta swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: Units produced 31,666 Units sold 28,666 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative ti ml'm'd \\DOOLON (9000 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 31,600 units but sold 34,600 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 (losses) for the second quarter. Complete this question by entering your answers in the tabs below. Req 3A Req BB Req 3C Reconcile the variable and absorption costing net operating income (loss) figures. (Losses and deductions should be entered as a negative.) Absorption costing not operating income (loss) Tami Tyler opened Tami's Creations, Incorporated, 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 nances. 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. Tami's Creations, Incorporated income Statement For the Quarter Ended March 31 Sales (23,600 units) $ 1,144,000 Variable expenses: Variable cost of goods sold 55 454,740 Variable selling and administrative 197,340 652,080 Contribution margin 491,920 Fixed expenses: Fixed manufacturing overhead 252,800 Fixed selling and administrative 251,120 503,920 Net operating loss $ ( 12,000) 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 prot for the quarter. At this point, Ms. Tyler is manufacturing only one productia swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: Units produced 31,600 Units sold 28,600 Variable costs per unit: Direct materials $ 7.20 Direct labor $ 6.90 Variable manufacturing overhead $ 1.80 Variable selling and administrative $ 6.90 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? 0, Reconcile the variable and absorption costing net operating income (loss) gures. 3. During the second quarter of operations, the company again produced 31,600 units but sold 34,600 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? 0. Reconcile the variable costing and absorption costing not operating incomes (losses) for the second quarter. Complete this question by entering your answers in the tabs below. Req 1A Req iB Req 1C Req 3A Req BB Req 3C During the second quarter of operations, the company again produced 31,600 units but sold 34,600 unis. (Assume no change in total xed costs.) What is the company's variable costing net operating income (loss) for the second quarter? (Round your intermediate calculations to 2 decimal places.) Variable selling and administrative 197,348 652,888 Contribution margin 491, 928 Fixed expenses: Fixed manufacturing overhead 252,888 Fixed selling and administrative 251,128 583,928 Net operating loss $ ( 12,998) 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 producta swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: Units produced 31,688 Units sold 28,688 Variable costs per unit: Direct materials $ 7.28 Direct labor $ 6.98 Variable manufacturing overhead $ 1.88 Variable selling and administrative $ 6.98 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 31,600 units but sold 34,600 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 (losses) for the second quarter. Complete this question by entering your answers in the tabs below. ReqlA RquB Requ Req3A Req3C During the second quarter of operations, the company again produced 31,600 units but sold 34,600 units. (Assume no change in total xed costs.) What is the company's absorption costing net operating income (loss) for the second quarter? (Round your intermediate calculations to 2 decimal places.) Net operating income (loss) laml' 5 creations, incorporateo Income Statement For the Quarter Ended March 31 Sales (28,666 units) $ 1,144,666 Variable expenses: Variable cost of goods sold $ 454,746 Variable selling and administrative 197,346 652,686 Contribution margin 491,926 Fixed expenses: Fixed manufacturing overhead 252,866 Fixed selling and administrative 251,126 563,926 Net operating loss $ ( 12,666) Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had pEanned 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 producta swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: Units produced 31,666 Units sold 28,666 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative ttt ml'm'd lDCOlDN 0000 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 31,600 units but sold 34,600 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 (losses) for the second quarter. Complete this question by entering your answers in the tabs below. Req 1A Req lB Req 1C Req 3A Req 3B Req 3C During the second quarter of operations, the company again produced 31,600 units but sold 34,600 units. (Assume no change in total xed costs.) Reconcile the variable costing and absorption costing net operating incomes (losses) for the second quarter. (Losses and deductions should be entered as a negative.) Absorption costing not operating income (loss) Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning ofthe 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 hasjust completed a course in managerial accounting at State University. Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 Sales (28,666 units) $ 1,144,666 Variable expenses: Variable cost of goods sold $ 454,746 Variable selling and administrative 197,346 652,686 Contribution margin 491,926 Fixed expenses: Fixed manufacturing overhead 252,866 Fixed selling and administrative 251,126 563,926 Net operating loss $ ( 12,666) 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 ieast some profit for the quarter. At this point, Ms. Tyler is manufacturing only one producta swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: Units produced 31,666 Units sold 28,666 Variable costs per unit: Direct materials $ 7.26 Direct labor $ 6.96 Variable manufacturing overhead $ 1.86 Variable selling and administrative $ 6.96 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 31,600 units but sold 34,600 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 (losses) for the second quarter. Complete this question by entering your answers in the tabs below. Req 1A ' Req lB Req 1C Req 3A Req 38 Req 3C Compute the unit product cost under absorption costing. (Round your answer to 2 decimal places.)