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 $21,500 of indirect material) $ 25,400 36,800 111,600 $ 276,600 23,700 40,900 121,900 305,500 Note: The pre-determined overhead rate is 0.88 (88%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,380,000 and operating expenses were $275,000 for 2018. Required 1 Required 2 Prepare a Partial Income Statement if sales revenue was $1,380,000 and operating expenses were $275,000 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