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Ehrlich Company applies manufacturing overhead by using a predetermined rate of 50% of direct labor cost....

Ehrlich 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
Ehrlich adds a 40% markup on total cost to calculate the sales price.
Showing your calculations, what is Ehrlich's cost of goods sold?
Showing your calculations, what is Ehrlich's sales price?
Showing your calculation, what is Ehrlich's gross margin?
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