Farnsworth Executive Coaching (FEC) offers services to fitms in advising executives on improving productivity and leadership. For August, FEC worked 666 hours for Grace Corporation and 396 hours for Temple Construction, in addition, FEC had small engagements with various clients totaling 131 hours. FEC bills clients at the rate of $630 per hour; labor cost for its professional staff is $305 per hour. Overhead costs in August totaled $73,500. Overhead is applied to elients at $65 per labor-hour. In addition, FEC had $179,400 in marketing and administrative costs. All transactions are on account. All services were billed. 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. Show labor and overhead cost flows throwgh T-accounts. Show labor and overhead cost flows through T-accounts. Complete this question by entering your answers in the tabs below. Prepare an income statement for the company for August