HINT (p = price per product):
50000p - .03(50000p) = 2000000 + 300000
I need some help with the following problem. I have calculated that a company has $2,000,000 in expenses and they sell 50,000 products. The company is wanting a 15% gross profit margin and there are also 3% collection expenses (3% of total sales). I am trying to establish what is the cost of each product?