For the month of July, UP Payroll Services worked 2,000 hours for Dune Motors, 600 hours for Jakes Charters, and 1,000 hours for Mission Hospital. UP bills clients at $124 an hour; its labor costs are $47 an hour. A total of 4,000 hours were worked in July with 400 hours not billable to clients. Overhead costs of $32,000 were incurred and were assigned to clients on the basis of direct labor-hours. Because 400 hours were not billable, some overhead was not assigned to jobs. UP had $30,500 in marketing and administrative costs. All transactions were on account.

Required:

a. What are the revenue and cost per client?

b. Prepare an income statement for July.