please explain step by step

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 has just completed a course in managerial 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 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: 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 32,000 units but sold 35,000 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 voriable 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 places.) 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 date relating to the 5wimsuit 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 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 32,000 units but sold 35,000 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 compony'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. What is the company's absorption costing net operating income (loss) for the quarter? (Round your intermediate) calculations to 2 decimal places.) 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: 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 (foss) for the quanter? c. Reconcile the variable and absorption costing net operating incorne (loss) figures: 3. Duting the second quarter of operationst, the company again produced 32.000 units but sold 35,000 unitti. (Assurne 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. Reconale the variable and absorption costing net operating income (loss) figures. (Losses and deductions should be entered as a neqative.) Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support 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 quarec. 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: 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 compony again produced 32,000 units but sold 35,000 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. Complete this question by entering your answers in the tabs below. During the second quarter of operations, the company again produced 32,000 units but sold 35,000 units. What is the company's vanable costing net operating income (loss) for the second quarter? Ms. Tyler is discouraged over the loss shown for the quarter, particularty 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 vatiable 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 swimsur. Production and cost data relating to the swimsuit 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 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 32,000 units but sold 35,000 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. Complete this question by entering your answers in the tabs below. During the second quarter of operations, the company again produced 32,000 units but soid 35,000 units. What is the company's absorption costing net operating income (loss) for the second quarter? (Round your intermediate calculations to 2 decinal 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 o considerable strain on Ms. Tyler's personal finances. The following income statement for the first quanter was prepared by a friend who has just compieted a course in managerial accounting at State University: Ms. Tyler is discouraged over the loss shown for the quarter, paricularly because she had plonned 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 absarpsion costing had been used the company probably would have reported at least some profit for the quartet. 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: Required: 1. Complete the following: a. Compute the unit product cost under absorption costing b. What is the compeny's absorption costing net operating income (loss) for the qusner? c. Reconcile the variable and absorption costing net operating income (loss) figures 3. During the second quarter of operations, the company again produced 32.000 units but sold 35,000 units. (Assume no change in total fixed costs) a. What is the company's vatiable costing net operating income (loss) for the second quaner? 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. During the second quarter of operations, the company again produced 32,000 units but sold 35,000 units. Reconcile the variable costing and absorption costing net operating incomes (losses) for the second quarter. (Losses and deductions shouid be entered as a negative.)