Please do not give salutations in image format thankuh Rutland Business Services (RBS) provides miscellaneous consulting and services to local businesses. In August, RBS worked for threeclients. It worked 270 hours for Selden Contracting, 170 hours for Moenhart Insurance, and 230 hours for Englewood Medical Center.RBS bills clients at $509 an hour; its labor costs are $128 an hour. A total of 750 hours were worked in August with 80 hours notbillable to clients. Overhead costs of $62,250 were incurred and were assigned to clients on the basis of direct labor-hours. Because80 hours were not billable, some overhead was not assigned to jobs. RBS had $57,600 in marketing and administrative costs. Alltransactions were on account.Required:a. What are the revenue and cost per client?b. Prepare an income statement for August.Complete this question by entering your answers in the tabs below.Required A Required BWhat are the revenue and cost per client?SeldenContractingMoenhartInsuranceRevenueLaborOverheadMargin$$EnglewoodMedical Center$Required A0Required B > Complete this question by entering your answers in the tabs below.Required A Required BPrepare an income statement for August.RUTLAND BUSINESS SERVICESLess cost of services to clients:Less other costs:Income StatementFor the Month Ended August 31Total cost of services to clientsTotal other costs< Required A$000Required

The financial statement that shows the company's income and expenses is referred to as an income…

Answered: Rutland Business Services (RBS)…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter7: Financial Statements For A Proprietorship

Section7.1: Preparing An Income Statement

Problem 1OYO

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