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 $22,588 of indirect material) $ 25,688 37,600 111,880 $ 276,880 23,988 41,600 122, 100 385,788 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 of sales revenue was $1,400,000 and operating expenses were $285,000 for 2018. Required 1 Required 2 Prepare a Cost of Goods Manufactured report. . 3 DAVENPORT COMPANY Cost of Goods Manufactured Report 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 $ 37,000 283.000 320 200 (41,000) 279,200 276,800 249,120 805,120 11.800 (122100) 794,820 $ $ Required 1 Required 2 Prepare a Partial income Statement if sales revenue was $1,400,000 and operating expenses were 5285,000 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