Manufacturing costs for Davenport Company during 2018 were as follows:

Beginning Finished Goods, 1/1/18$25,600Beginning Raw Materials, 1/1/1837,000Beginning Work in Process, 1/1/18111,800Direct Labor for 2018$276,800Ending Finished Goods, 12/31/1823,900Ending Raw Materials, 12/31/1841,000Ending Work in Process, 12/31/18122,100Material Purchases for 2018305,700(including $22,500 of indirect material)

Note: The pre-determined overhead rate is 0.90 (90%) of direct labor cost.

Required:

1.Prepare a Cost of Goods Manufactured report.

2.Prepare a Partial Income Statement if sales revenue was $1,400,000 and operating expenses were $285,000 for 2018.