E2-10 (Static) 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 Materials Purchases for 2018 (including $15,e00 of indirect material) $ 24,100 35,500 110,300 275,300 22,400 40,250 120,600 304,200 t nces Note: The pre-determined overhead rate is 0.75 (75 % ) of direct labor cost Required: 1. Prepare a cost of goods manufactured report. 2. Prepare o Partiol Income Statement if sales revenue was $1,250,000 and operating expenses were $210,000 for 2018