Homework Answers
1)
| Sales Budget | |||
| For the Year Ended December 31, 2018 | |||
| Units sold | Unit price | Total revenues | |
| Radon tests | 12626 | $260 | $3282760 |
| Lead tests | 15106 | $230 | 3474380 |
| Total | $6757140 | ||
Calculation of Units sold
Radon tests= 11800+7%*11800= 12626 units
Lead tests= 16600-9%*16600= 15106 units
2)
| Sales Budget | |||
| For the Year Ended December 31, 2018 | |||
| Units sold | Unit price | Total revenues | |
| Radon tests | 12626 | $260 | $3282760 |
| Lead tests | 15936 | $220 | 3505920 |
| Total | $6788680 | ||
Calculation of Units sold
Radon tests= 11800+7%*11800= 12626 units
Lead tests= 16600-4%*16600= 15936 units
Howell should lower the price of a lead test in 2018 if the goal is to maximize sales revenue.
Yes, Howell should lower the price of a lead test in 2018 if the company's goal is to maximize sales revenue. As when the company lower the price of lead test in 2018 total revenue is greater than when company does not lower the price of lead test. So, to maximize the sales revenue company should lower the lead price in 2018.
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In 2017. Howell & Sons, a small environmental testing firm, performed 11,800 radon tests for $250...
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In 2017, Howell & Sons, a small environmental-testing firm, performed 11,400 radon tests for $290 each and 16,600 lead tests for $220 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 13% next year. However, awareness of radon-related health hazards is expected to result in a 5% increase in radon-test volume each year in the near future. Jim Howell feels that if he lowers his price for lead testing to $200 per...
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JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
In 2017, Howell & Sons, a small environmental-testing firm, performed 11,400 radon tests for $290 each and 16,600 lead tests for $220 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 13% next year. However, awareness of radon-related health hazards is expected to result in a 5% increase in radon-test volume each year in the near future. Jim Howell feels that if he lowers his price for lead testing to $200 per...
In 2017, Cole & Sons, a small environmental-testing firm, performed 11,400 radon tests for $250 each and 15,000 lead tests for $180 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 15% next year. However, awareness of radon-related health hazards is expected to result in a 7% increase in radon-test volume each year in the near future. Jim Cole feels that if he lowers his price for lead testing to $170 per...
In 2017, Alderman & Sons, a small environmental-testing firm, performed 11,400 radon tests for $280 each and 16,400 lead tests for $240 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 14% next year. However, awareness of radon-related health hazards is expected to result in a 5% increase in radon-test volume each year in the near future. Jim Alderman feels that if he lowers his price for lead testing to $220 per...
In 2017, Hart & Sons, a small environmental-testing firm, performed 11,400 radon tests for $260 each and 15,000 lead tests for $210 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 12% next year. However, awareness of radon-related health hazards is expected to result in a 5% increase in radon-test volume each year in the near future. Jim Hart feels that if he lowers his price for lead testing to $200 per...
In 2017, Canseco & Sons, a small environmental-testing firm, performed 12,200 radon tests for $270 each and 16,000 lead tests for $190 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 15% next year. However, awareness of radon-related health hazards is expected to result in a 7% increase in radon-test volume each year in the near future. Jim Canseco feels that if he lowers his price for lead testing to $180 per...
In 2017, Peterson & Sons, a small environmental-testing firm, performed 12,200 radon tests for $260 each and 16,600 lead tests for $220 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 10% next vear. However, awareness of radon-related health hazards is expected to result in a 4% increase in radon-test volume each year in the near future. Jim Peterson feels that if he lowers his price for lead testing to $200 per...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
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