Check my work mode: This shows what is correct or inc variable manufacturing overhead Variable selling and administrative Required: 1. Complete the following: a. Compute the unit product cost under absorption costing. $ 1.00 $ 6.00 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 30,000 units bu total fixed costs.) a. What is the company's variable costing net operating income (loss) for the second quar b. What is the company's absorption costing net operating income (loss) for the second q c. Reconcile the variable costing and absorption costing net operating incomes for the se- Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 3A Req 3B Req 3C Compute the unit product cost under absorption costing. (Round your answer to 2 decimal pl Unit product cost $ 24.10 Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not ind c. Reconcile the variable and absorption costing net operating income (loss) figures. 3. During the second quarter of operations, the company again produced 30,000 units but sold 32,000 units. (Assume no ch 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 3A Req 3B 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's Creations, Incorporated Absorption Costing Income Statement Total $ Direct materials 1,120,000 Direct labor 1,120,000 S 1,120,000 Check my work mode: This shows what i 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 30,000 units but sold 32,000 units. (Assume no char 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Req 3A Req 3B Req 3C Reconcile the variable and absorption costing net operating income (loss) figures. (Enter any losses or deductions as a negative value.) Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Variable costing net operating income (loss) (13,350) 26,700x Absorption costing net operating income (loss) $ 13,350 < Req 18 Req 3A > Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 3A Req 3B Req 3C During the second quarter of operations, the company again produced 30,000 units but sold 32,000 units. Wha company's variable costing net operating income (loss) for the second quarter? Tami's Creations, Incorporated Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative Net operating income 1,360,000 $516,800x 231,200 748,000 612,000 $275,900 ( $ 241,450 517,350 $ 94,650 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 30,000 units but sold 3 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 qu Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 3A Req 3B Req 3C During the second quarter of operations, the company again produced 30,000 units but sold 32,000 company's absorption costing net operating income (loss) for the second quarter? (Round your intern decimal places.) Tami's Creations, Incorporated Absorption Costing Income Statement Sales Cost of goods sold Gross margin Total 1,360,000 819,400 540,600 Selling and administrative expenses Net operating income $ 540,600 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 30,000 units but sold 32,000 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Req 3A Req 38 Req 3C During the second quarter of operations, the company again produced 30,000 units but sold 32,000 units. Reconcile the variable costing and absorption costing net operating incomes for the second quarter. (Losses and deductions should be entered as a negative.) Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Variable costing net operating income (loss) Deduct: Fixed manufacturing overhead cost released from inventory under absorption costing Absorption costing net operating income (loss) $ 94,650 (26,700) $ 67,950 the first quarter was prepared by a friend who has just completed a course in managerial accounting at State University. Sales (28,000 units) Variable expenses: Tami's Creations, Incorporated Income Statement For the Quarter Ended March 31 Variable cost of goods sold Variable selling and administrative Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative Net operating loss $ 1,120,000 $ 462,000 168,000 630,000 490,000 500,000 $ (10,000) 300,000 200,000 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 profit for the quarter. At this point, Ms. Tyler is manufacturing only one product-a swimsuit. Production and cost data relating to the swimsuit for the first quarter follow: Units produced Units sold Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Required: 1. Complete the following: a. Compute the unit product cost under absorption costing. 30,000 28,000 $ 3.50 $ 12.00 $ 1.00 $ 6.00 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 30,000 units but sold 32,000 units. (Assume no change in Intal fund t