Problem 6-23 (Algo) Absorption and Variable Costing; Production Constant, Sales Fluctuate [LO6-1, LO6-2, LOG-3] Tami Tyler opened Tomis Creations, Inc., a small manufocturing company, ot 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 quarter was prepared by a friend who has just completed a course in managerial accounting at State University. Ms. Tyler is discouroged over the loss shown for the quarter, parbcularly becouse she had planned to use the stasement as support for o bonkloon. Another friend, o CPA insists yot the compony should be using absorption cosong rather thon variable costing end argues thet if absorption costing had been used the company probably would have reported at least sorne profit for the ausiter At this point, Ms Tyler is manufacturing only one product - a swimsuit. Production and cost data relating to the swimsult for the first ouarter 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 quorter? c. Reconclie the variable and absorption costing net operating income (ioss) figures. 3. During the second quarter of operations, the company again produced 31,800 units but sold 34,800 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 obsorption 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. What is the company's absorption costing net operating income (loss) for the quarter? (Round your intermedlate calculations to 2 decimal places.) b. What is the company's absorption costing net operating income (loss) for the second quarter? c. Reconcile the varioble costing and absorption corting net operating incomes for the second auarte: Reconcie the variable and absorption costing net operating income (loss) foures. (Losus and deductions should be antered ax a negative.) During the second quarter of operations, the company again produced 31,800 units but sold 34,800 units. What is the company's variable costing net operating income (loss) 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 31,800 units but sold 34,800 units. What is the company's absorption costing net operating income (loss) for the second quarter? (Round your intermediate calculations to 2 decimal places.) Complete this question by entering your answers in the tabs below. During the second quarter of operations, the company again produced 31,800 units but sold 34,800 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.)