You received partial credit in the pre 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 $19,500 of indirect material) $ 25,000 36,400 111,200 $ 276,200 23,300 40,700 121,500 305,100 Note: The pre-determined overhead rate is 0.84 (84%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1.340,000 and operating expenses were $255,000 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 $1,340,000 and operating expenses were $255,000 for 2018. DAVENPORT COMPANY Income Statement For the Year 2018 Sales Revenue 1,340,000 Less: Cost of Goods Sold Beginning Finished Goods Inventory 25,000 Plus: Costs of Goods Manufactured Cost of Goods Available for Sale Less: Ending Finished Goods Inventory 23,300 Cost of Goods Sold Gross Profit Less: Operating (Period) Expenses 25,500 Net Income from Operations 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 $19.500 of indirect material) $ 25,000 36,400 111,200 $ 276,200 23,300 40,700 121,500 305, 100 Note: The pre determined overhead rate is 0.84 (84%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report 2. Prepare a Partial Income Statement if sales revenue was $1,340,000 and operating expenses were $255,000 for 2018. Complete this question by entering your answers in the tabs below. Required Required 2 Prepare a Cost of Goods Manufactured report. 36,400 305,100 DAVENPORT COMPANY Cost of Goods Manufactured Raport For the Year 2018 Beginning Raw Materials Inventory Plus: Raw Material Purchases Less: Indirect Material Used Less: Ending Raw Materials Inventory Direct Materials Used in Production Direct Labor Applied Manufacturing Overhead Total Current Manufacturing Costs Plus: Beginning Work in Process Inventory Less Ending Work in Process Inventory Cost of Goods Manufactured 40,700 27,600 111,200 121,500 BOLI Required 2 > BE
