Manning Company applies manufacturing overhead by using a predetermined rate of 50% of direct labor cost. The data that follow pertain to job no. 5:

direct material=$55,000

direct labor=$80,000

Manning adds a 40% markup on total cost to calculate the sales price.

Showing your calculations, what is Manning's cost of goods sold?

Showing your calculations, what is Manning's sales price?

Showing your calculation, what is Manning's gross margin?