TamI Tyler opened Taml's Creatlons, Inc., a small manufacturing company. at the beginning of the year. Getting the company through its first quarter of operatlons placed a considerable strain on Ms. Tyler's personal finances. The following Income statement for the first quarter was prepared by a frlend who has Just completed a course in managerlal accounting at State University. 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 frlend, a CPA, Insists that the company should be using absorptlon costing rather than varlable costing and argues that if absorptlon 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 swimsult. Production and cost data relating to the swimsult for the first quarter follow: Required: 1. Complete the following: a. Compute the unit product cost under absorption costing. b. What is the company's absorptlon costing net operating income (loss) for the quarter? c. Reconclle the varlable and absorption costing net operating Income (loss) figures. 3 . Durling the second quarter of operatlons, the company again produced 31,700 units but sold 34,700 units. (Assume no change in total fixed costs.) a. What is the company's varlable 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. Reconclle the varlable costling and absorptlon costing net operating incomes for the second quarter. Answer is not complete. Complete this question by entering your answers in the tabs below. What is the company's absorption costing net operating income (loss) for the quarter? (Round your intermediate calculations to 2 decimal places.) Answer is not complete. Complete this question by entering your answers in the tabs below. Reconcile the variable and absorption costing net operating income (loss) figures. (Losses and deductions should be entered as a negative.) Answer is not complete. 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. What is the company's variable costing net operating income (loss) for the second quarter? Answer is not complete. 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. What is the company's absorption costing net operating income (loss) for the second quarter? (Round your intermediate calculations to 2 decimal places.) Answer is not complete. 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. Reconcile the variable costing and absorption costing net operating incomes (losses) for the second quarter. (Losses and deductions should be entered as a negative.)