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Exercise 7-41 (Algo) Job Costing in a Service Organization (LO 7-4) For August, Royal Consulting and Mediation Practice (RCMP) worked 900 hours for Alberta Company and 1,800 hours for Ontario Corporation, RCMP bills clients at the rate of $560 per hour labor cost for its consulting staff is $360 per hour. The total number of hours worked in August was 2,700, and overhead costs were $56,000. Overhead is applied to clients at $26 per labor-hour in addition, RCMP had $320,000 in marketing and administrative costs. All transactions are on account. All services were billed. Transaction Description (a) Record Labor cost (b) Record Applied Service Overhead (c) Record Cost of services billed Record Actual Service Overhead (d) Required: a. Show labor and overhead cost flows through T-accounts b. Prepare an income statement for the company for August. Complete this question by entering your answers in the tabs below. Required A Required B Show labor and overhead cost flows through T-accounts Work-In-Process 97,200 Wages Payable Beg bal Beg bal Next > Apple iCloud Yahoo Bing Google Waipedia Facebook Twitter Linkedin The Weather Channel Yolo TripAdvisor Saved LUMULUS MY Hy your anar eru Required A Required B Show labor and overhead cost flows through T-accounts. Wages Payable Work-In-Process 97,200 Bog. bal Bog, bal End, bal 0 End, bal 97 200 Service Overhead Control Cost of Services Billed Beg. bal Beg bal End, bal End, bal Applied Service O.H. Beg. bal End, bal. 0 Required A Required B > Questions - Ch? HW Connect Hit Connect Yelp Tavlor Abbie Cloud Yahooting Doogle wipedia Facebook Twitter Linkedin The Weather Channel Saved Ch 7 HW WHYULUHY uut suve 3 Required A Required B Prepare an income statement for the company for August. mints ROYAL CONSULTING AND MEDIATION PRACTICE Income Statement For the Month Endod August 31 Skipped ebook forences BBB