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 just completed a course in managerial accounting at State University. Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 Sales (28,700 units) Variable expenses: Variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative Net operating loss Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Required: $ 462,070 183,680 $ 253,600 260,650 Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she hoped to use the statement as support for a bank loan. Another friend, a CPA, insists the company should be using absorption costing rather than variable costing and claims if absorption costing had been used, the company probably would have reported a profit for the quarter. At this point, Ms. Tyler makes only one product-a swimsuit. Production and cost data for the first quarter follow: Units produced Units sold 31,700 28,700 $ 1,148,000 $ 7.30 $ 7.20 $ 1.60 $ 6.40 645,750 502,250 514,250 $ ( 12,000)

What is the company's absorption costing net operating income (loss) for the quarter? Note: Round your intermediate calculations to 2 decimal places. 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. During the second quarter of operations, the company again produced 31,700 units but sold 34,700 units. (Assume in total fixed costs.) Reconcile the variable costing and absorption costing net operating incomes (losses) for the secon quarter. Note: Enter any losses or deductions as a negative value. ami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company hrough its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following income statement for he first quarter was prepared by a friend who just completed a course in managerial accounting at State University. Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she hoped to use the statement as support for a bank loan. Another friend, a CPA, insists the company should be using absorption costing rather than variable costing and claims if absorption costing had been used, the company probably would have reported a profit for the quarter. Compiete this question by entering your answers in the tabs below. During the second quarter of operations, the company again pro Req 38,700 units but sold 34,700 units. What is company's absorption costing net operating income (loss) for the second quarter? Note: Round your intermediate calculations to 2 decimal places. During the second quarter of operations, the company again produced 31,700 units but sold 34,700 units. (As in total fixed costs.) What is the company's variable costing net operating income (loss) for the second quarter Note: Round your intermediate calculations to 2 decimal places. Complete this question by entering your answers in the tabs below. Reconcile the variable and absorption costing net operating income (loss) figures. Note: Enter any losses or deductions as a negative value. Complete this question by entering your answers in the tabs below. Compute the unit product cost under absorption costing. Note: Round your answe to 2 decimal places