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Farnsworth Executive Coaching (FEC) offers services to firms in advising executives on improving productivity and leadership. For August, FEC worked 660 hours for Grace Corporation and 390 hours for Temple Construction. In addition, FEC had small engagements with various clients totaling 125 hours. FEC bilis clients at the rate of $600 per hour, labor cost for its professlonal staff is $275 per hour. Overhead costs in August totaled $73,200. Overhead is applied to clients at $65 per labor-hour. In addition, FEC had $179.250 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 through T-accounts. Complete this question by entering your answers in the tabs below. Prepare an income statement for the company for August. Farnsworth Executive Coaching (FEC) offers services to firms in advising executives on improving productivity and leadership. For August, FEC worked 660 hours for Grace Corporation and 390 hours for Temple Construction. In addition, FEC had small engagements with various clients totaling 125 hours. FEC bilis clients at the rate of $600 per hour, labor cost for its professlonal staff is $275 per hour. Overhead costs in August totaled $73,200. Overhead is applied to clients at $65 per labor-hour. In addition, FEC had $179.250 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 through T-accounts. Complete this question by entering your answers in the tabs below. Prepare an income statement for the company for August