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 $17,588 of indirect material) $ 24,600 36,000 119,800 $ 275,800 22,900 40,500 121, 10e 384,700 17 Note: The pre-determined overhead rate is 0.80 (80%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report 2. Prepare a Partial Income Statement if sales revenue was $1,300,000 and operating expenses were $235,000 for 2018 Required 1 Required 2 Prepare a Cost of Goods Manufactured report. DAVENPORT COMPANY Cost of Goods Manufactured Report For the Year 2018 Direct Materials Used in Production Total Current Manufacturing Costs Cost of Goods Manufactured Help Required 1 Required 2 Prepare a Partial Income Statement if sales revenue was $1,300,000 and operating expenses were $235,000 for 2018, DAVENPORT COMPANY Income Statement For the Year 2018 Less: Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Sold Net Income from Operations