Stuck on this entire problem.

Tami Tyler opened Tami's Creations, Inc., 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 $1,156,000 Tani's Creations, Inc. Income Statement For the Quarter Ended March 31 Sales (28,900 units) Variable expenses: Variable cost of goods sold $ 436,390 Variable selling and administrative 182,070 Contribution margin Fixed expenses Fixed manufacturing overhead 287,100 Fixed selling and administrative 263,940 Net operating loss 618,460 537,540 551,040 $ ( 13,500) 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: 31,900 28,900 Units produced Units sold Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 7.50 $ 6.00 $ 1.60 $ 6.30 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 quarter? c. Reconcile the variable and absorption costing net operating income (oss) figures Fixed selling and administrative Net operating loss 263,940 551,040 $ 13,500) 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: 31,900 28,900 Units produced Units sold Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 7.50 $ 6.00 $ 1.60 $ 6.30 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 31,900 units but sold 34,900 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 (oss) for the second quarter? c. Reconcile the variable costing and absorption costing net operating incomes for the second quarter. Req 1A Reg 1B Req 1c Req Req 3B Req 3C What is the company's absorption costing net operating income (loss) for the quarter? (Round your inte to 2 decimal places.) Tami's Creations, Inc. Absorption Costing Income Statement Total Sales $ 1,156,000 Cost of goods sold 696,490 Gross margin 459,510 Selling and administrative expenses Net operating income (loss) Req Reg 1A Reg 1B Req 1C Req 3A Reg 3B Req 3C During the second quarter of operations, the company again produced 31,900 units but sold 34,900 units. What is the company's variable costing net operating income (loss) for the second quarter? Tami's Creations, Inc. Variable Costing Income Statement 0 0 0 Net operating income (loss) Req 1A Req 1B Req 1C Req Req 3B Req 3C During the second quarter of operations, the company again produced 31,900 units but sold 34,900 units. What is the company's absorption costing net operating income (loss) for the second quarter? (Round your intermediate calculation decimal places.) Tami's Creations, Inc. Absorption Costing Income Statement Total 0 Net operating income (loss) Req 1A Reg 1B Req 1C Req Reg 3B Reg 3C During the second quarter of operations, the company again produced 31,900 units but sold 34,900 units. Reco variable costing and absorption costing net operating incomes (losses) for the second quarter. (Losses and ded be entered as a negative.) Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Variable costing net operating income (loss) Absorption costing net operating income (loss) Req 3B Reg 30