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 $18,000 of indirect material) $ 24,700 36,100 110,900 $275,900 23,000 40, 550 121,200 304,800 Note: The pre-determined overhead rate is 0.81 (81%) of direct labor cost. Required: 1. Prepare a cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,310,000 and operating expenses were $240,000 for 2018. Complete this question by entering your answers in the tabs below. 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 Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,310,000 and operating expenses were $240,000 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 $1,310,000 and operating expenses were $240,000 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