For August, Royal Consulting and Mediation Practice (RCMP) worked 850 hours for Alberta Company and 1750 hours for Ontario Corporation, RCMP bills clients at the rate of $550 per hour; labor cost for its consulting staff is $350 per hour. The total number of hours worked in August was 2.600, and overhead costs were $55,000. Overhead is applied to clients at $28 per labor hour. In addition, RCMP had $315,000 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 (d) Record Actual Service Overhead Required: .. Show labor and overhead cost flows through T-accounts b. Prepare an income statement for the company for August OK Complete this question by entering your answers in the tabs below. ences Required A Required B Show labor and overhead cost flows through T-accounts. Wages Payable Work-In-Process Beg bal Beg bal End bal End bal Service Overhead Control Cost of Services Billed Beg bal Beg bal Net Required A Required B Show labor and overhead cost flows through T-accounts. Wages Payable Work-In-Process Beg bal Beg bal End bal End, bal Cost of Services Billed Service Overhead Control Beg bal Beg tal End bal End bal Applied Service O.H. Beg bal End bal Required Required B > Required A Required B Prepare an income statement for the company for August ROYAL CONSULTING AND MEDIATION PRACTICE Income Statement For the Month Ended August 31