Bloomfield Case Study

417 words - 2 pages

1.
As Fred Bloomfield, I would consider the farmers ability to pay. He has written that $72,000 was written off as bad debt and it is possible that maintaining or increasing the price could increase this number. Fred can react one of two ways here. Either he can be stricter in paybacks and risk losing that personal touch that he provides to most of his customers (farmers that he knows very well) or he can decrease the price to reduce the risk of bad debt being higher.
Another thing that I would consider is how much more profit would I produce by increasing the price and if this were conducive to our business in the short and long term. Increasing or maintaining the price may possibly increase our income in the short term, but it may ...view middle of the document...

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Price | -------------------------------------------------
$224 | -------------------------------------------------
$240 |
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Sales | -------------------------------------------------
($224 * 20,333) + up to 15% increase = $5,237,780.80 | -------------------------------------------------
$4,880,000– 15% possible decrease = $4,148,000 |
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Gross Margin | -------------------------------------------------
$5,237,780.8 - $4,867,950 = $369,830.80 | -------------------------------------------------
$4,148,000 - $3,598,050= $549,950 |
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Net Income | -------------------------------------------------
$369,830.80 – 468,000= ($98,169.20) | -------------------------------------------------
$549,950 – 468,000 = $81,950 |

* 4,880,000 is the income from sales as per the income statement ended in November 30, 1982
* 4,880,000/240= 20,333 tonnes sold in 1982
* Gross Margin is calculated with Costs of Goods sold either increased by 15% if the price is $224 or decreased by 15% if price is $240
* Subtract Selling and Administrative Costs will give us the Net Income

3.
Something I would consider in order to improve the profitability of the company would be to start selling feed. It was written that our competitors sold livestock feed and that these sales took up about 60% of their sales meaning that it is a significant part of their sales and if we are this profitable with only selling fertilizer maybe adding feed would considerably increase our profitability.

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