Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $120 each. Direct materials cost $18 per unit, and direct labor costs $17 per unit. Manufacturing overhead is applied at a rate of 225% of direct labor cost. Nonmanufacturing costs are $29 per unit. What is the gross profit margin for the cat condos? (Round your intermediate calculations to nearest whole dollar.) Multiple Choice

39.2%

15.0%

85.0%

67.5%