Allocation Busters (AB) is a dispute mediation firm offering services to firms in disputes about cost allocations with government agencies. For March, AB worked 459 hours for Massive Airframes and 670 hours for Gigantic Drydocks. AB bills clients at the rate of $515 per hour, labor cost for its professional staff is $220 per hour. Overhead costs in March totaled $40,690. Overhead is applied to clients at $45 per labor-hour. In addition, AB had $198,100 in marketing and administrative costs. All transactions are on account. All services were billed Record Labor cost (b) Record Applied Service Overhead d) Record Actual Service Overhead Record Cost of services billed Required a. Show labor and overhead cost flows through T-accounts. Wages Payable Work-In-Process Beg ba Beg. bal. End. bal End. bal Cost of Services Billed Service Overhead Control Beg bal Beg bal End bal End bal Applied Service O.H Beg ba End bal b. Prepare an income statement for the company for March ALLOCATION BUSTERS Income Statement For the Month Ended March 31