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 $24,500 of indirect material) $ 26,000 37,400 112,200 $277,200 24,300 41,200 122,500 306,100 Note: The pre-determined overhead rate is 0.94 (94%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,440,000 and operating expenses were $305,000 for 2018. Required 1 Required 2 Prepare a cost of Goods Manufactured report. 37,400 306,100 24,500 41,200 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 277,200 112,200 122,500 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a Partial Income Statement if sales revenue was $1,440,000 and operating expenses were $305,000 for 2018. DAVENPORT COMPANY Income Statement For the Year 2018 $ 1,440,000 26,000 Sales Revenue Less: Cost of Goods Sold Beginning Finished Goods Inventory Plus: Costs of Goods Manufactured Cost of Goods Available for Sale Less: Ending Finished Goods Inventory Cost of Goods Sold Gross Profit Less: Operating (Period) Expenses Net Income from Operations 24,300