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Note: The pre-determined overhead rate is 0.78 (78%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue wass $1,280,000 and operating expenses were $225,000 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 $1,280,000 and operating expenses were $225,0000 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 Required 1 Required 2 Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 Eeginning Raw Materials, 1/1/18 Eeginning Work in Process, 1/1/18 24,400 35,800 110,600 $275,600 22,700 40,400 120,900 304,500 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 16,500 of indirect material) Note: The pre-determined overhead rate is 0.78 (78%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report 2. Prepare a Partial Income Statement if sales revenue was $1,280,000 and operating expenses were $225,000 for 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a Cost of Goods Manufactured report. DAVENPORT COMPANY Cost of Goods Manufactured Report For the Year 2018 Direct Materials Used in Production Total Current Manufacturing Costs Cost of Goods Manufactured Required 1 Required 2