SkyInnovations Ltd. provided the following data:

Item	Amount
Direct Materials	$50,000
Direct Labor	$40,000
Factory Overhead	$30,000
Work in Progress (Beginning)	$10,000
Work in Progress (Ending)	$15,000
Finished Goods (Beginning)	$15,000
Finished Goods (Ending)	$20,000

Requirement: Calculate the total manufacturing cost and the cost of goods manufactured for SkyInnovations Ltd. Prepare the cost of goods sold statement and calculate the gross margin if sales were $400,000.