What is the full costing Net Income for the Chocolate-Mint Bubble Gum product line?

What is the absorption costing net income for the Chocolate-Mint, Green Apple Bubble Gum product line?

What is the financial accounting net loss for the Chocolate Mint Bubble Gum product line?

What is the financial accounting or full costing net loss for the Green Apple Bubble Gum product line?

What is the contribution margin for the egg nob bubble gum product line?

Find the total net income for snap gum on instruction 1 when all three product lines are being produced. Next, find the total net income for snap gum on instruction 2 when only 2 product lines are being produced. What was the total amount of change from the companywide net income in#1 to the net income #2?

Find the total net income for snap gum on #2 when 2 product lines are being produced. Next, find the total net income for snap gum on #3 when only one product lines are being produced. How much is the firms total change from net income to net loss?

+ Fill in the blank

The drop is the firms financial accounting net income between instruction 1 and instruction 2 is exactly equal to egg nog bubble gums_____ ___ that is given up if Egg nog Bubble Gum is discontinued

The drop in the firms financial accounting net income between instruction 2 and instruction 3 is exactly equal to Green Apple bubble gums____ ___ that is given up if Green Apple Bubble Gum is discontinued

SNAP GUM Co. CHOCOLATE-MINT GREEN APPLE EGG NOG BUBBLE GUM BUBBLE GUM BUBBLE GUM $600,000 $520,000 $200,000 REVENUE 250,000 50,000 VARIABLE COSTS 250,000 FIXED COSTS 200,000 200,000 200,000 *The Snap Gum Company's total fixed overhead consists of $600,000, which for analysis purposes is simply allocated equally to all gum product lines. INSTRUCTIONS 1. Find the Net Income for each gum line. EGG NOG CHOCOLATE-MINT GREEN APPLE BUBBLE GUM BUBBLE GUM BUBBLE GUM REVENUE VARIABLE COSTS CONTRIBUTION MARGIN FIXED COSTS NET INCOME 2. Based upon the financial accounting's absorption costing used to make the product-line income statements in instruction 1 above, make a decision about which product lines to keep using financial accounting ideas only Make new product-line income statements to find the new Net Income figures for the gums you are keeping 3. Your boss now has given you orders to drop any product line that is still not showing a financial accounting profit! (He says he's had Principles of Accounting I Financial Accounting and knows what's going on!) Make a new income statement to show your boss what will happen if you follow his directive. Explain what is going on to your boss. (Hint: Review your understanding of contribution margin