To find the selling price per implant, you can start by determining the total cost of producing the implants and then use the profit to find the total revenue.
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Calculate the total cost of production: \[ \text{Cost per implant} = 350 \text{ dollars} \] \[ \text{Total cost} = \text{Cost per implant} \times \text{Number of implants} = 350 \times 10,000 = 3,500,000 \text{ dollars} \]
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Calculate the total revenue using profit: Profit is calculated as: \[ \text{Profit} = \text{Total revenue} - \text{Total cost} \] Given that the profit is $3,200,000: \[ 3,200,000 = \text{Total revenue} - 3,500,000 \]
Rearranging the equation gives: \[ \text{Total revenue} = 3,200,000 + 3,500,000 = 6,700,000 \text{ dollars} \]
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Calculate the selling price per implant: \[ \text{Selling price per implant} = \frac{\text{Total revenue}}{\text{Number of implants}} = \frac{6,700,000}{10,000} = 670 \text{ dollars} \]
Therefore, the company sold each implant for $670.