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 $25,000 of indirect material) $ 26,100 37,500 112,300 $ 277,300 24,400 41,250 122,600 306,200 Note: The pre-determined overhead rate is 0.95 (95%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,450,000 and operating expenses were $310,000 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 Required 2 Prepare a Partial Income Statement if sales revenue was $1,450,000 and operating expenses were $310,000 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