I need help calculating the following:
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?
I may have set up the equation incorrectly!
Any help would be appreciated!