@2003z06:
On the online homework (which is the way I prepare – instead of using the CDs), the answer is $2329. This will the solution if you divide the actual sales $ by 500 instead of dividing the costs $ by 500 (note, $990,000 is the costs, not the sales, and using that figure will result in the $2277 amount per unit).
We know the profit will be 15% of some total target sales amount we'll just refer to as x (for the time being). We also know that the costs portion of this magic number x is $990,000 (given) and will be the other 85% of that desired number x. So, we want to know what number (x) multiplied by 85% will give us $990,000. That number x will be our target sales for the 500 units. Then, we divide that number x by 500 to get the price per unit:
Equation: $990,000 = x * .85
$990,000/.85 = x
x = $1,164,705.88 (this is the total sales target dollars for 500 units)
$1,164,705.88/500 = $2,329.41 (this is price per unit)
Hope that helps. This is the way I interpreted it anyway. So, essentially, I believe you do have the correct answer – just showing you my thought process…again, $2329 is marked as the correct answer in my online questions/answers.
AUD 92, REG 85, BEC 90, FAR 85
Ethics 100
Obtained License 7/11/11 🙂
.