E2-10 (Algo) Preparing Cost of Goods Manufactured and Income Statement [LO 2-6) Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 Beginning Raw Materials, 1/1/18 Beginning Work in Process, 1/1/18 Direct Labor for 2018 Ending Finished Goods, 12/31/18 Ending Raw Materials, 12/31/18 Ending Work in Process, 12/31/18 Material Purchases for 2018 (including $17,000 of indirect material) $ 24,500 35,900 110,700 $275, 700 22,800 40, 450 121,000 304,600 Note: The pre-determined overhead rate is 0.79 79%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,290,000 and operating expenses were $230,000 for 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a Partial Income Statement if sales revenue was $1,290,000 and operating expenses were $230,000 for 2018. DAVENPORT COMPANY Income Statement For the Year 2018 $ 1,290,000 Sales Revenue llege Cost of Goods Sold