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 $19,000 of indirect material) $ 24,900 36,300 111,100 $276, 100 23,200 40,650 121,400 305,000 Note: The pre-determined overhead rate is 0.83 (83%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,330,000 and operating expenses were $250,000 for 2018