10 3 points eBook Rutland Business Services (RBS) provides miscellaneous consulting and services to local businesses. In August, RBS worked for three clients. It worked 270 hours for Selden Contracting, 170 hours for Moenhart Insurance, and 230 hours for Englewood Medical Center. RBS bills clients at $521 an hour; its labor costs are $132 an hour. A total of 750 hours were worked in August with 80 hours not billable to clients. Overhead costs of $65,250 were incurred and were assigned to clients on the basis of direct labor-hours. Because 80 hours were not billable, some overhead was not assigned to jobs. RBS had $58,400 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 August. Print Complete this question by entering your answers in the tabs below. References Required A Required B What are the revenue and cost per client? Revenue Labor Overhead Margin Selden Contracting Moenhart Insurance Englewood Medical Center < Required A Required B > 3 10 points Rutland Business Services (RBS) provides miscellaneous consulting and services to local businesses. In August, RBS worked for three clients. It worked 270 hours for Selden Contracting, 170 hours for Moenhart Insurance, and 230 hours for Englewood Medical Center. RBS bills clients at $521 an hour; its labor costs are $132 an hour. A total of 750 hours were worked in August with 80 hours not billable to clients. Overhead costs of $65,250 were incurred and were assigned to clients on the basis of direct labor-hours. Because 80 hours were not billable, some overhead was not assigned to jobs. RBS had $58,400 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 August. ☒Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an income statement for August. RUTLAND BUSINESS SERVICES Income Statement For the Month Ended August 31 Revenue from clients Less cost of services to clients: Labor Overhead Total cost of services to clients Gross margin Less other costs: Labor Marketing and administrative costs Overhead Total other costs Operating profit 0 $ 0 0 $ 0 < Required A Required B >

10 3 points eBook Rutland Business Services (RBS) provides miscellaneous consulting and services to local businesses. In August, RBS worked for three clients. It worked 270 hours for Selden Contracting, 170 hours for Moenhart Insurance, and 230 hours for Englewood Medical Center. RBS bills clients at $521 an hour; its labor costs are $132 an hour. A total of 750 hours were worked in August with 80 hours not billable to clients. Overhead costs of $65,250 were incurred and were assigned to clients on the basis of direct labor-hours. Because 80 hours were not billable, some overhead was not assigned to jobs. RBS had $58,400 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 August. Print Complete this question by entering your answers in the tabs below. References Required A Required B What are the revenue and cost per client? Revenue Labor Overhead Margin Selden Contracting Moenhart Insurance Englewood Medical Center < Required A Required B > 3 10 points Rutland Business Services (RBS) provides miscellaneous consulting and services to local businesses. In August, RBS worked for three clients. It worked 270 hours for Selden Contracting, 170 hours for Moenhart Insurance, and 230 hours for Englewood Medical Center. RBS bills clients at $521 an hour; its labor costs are $132 an hour. A total of 750 hours were worked in August with 80 hours not billable to clients. Overhead costs of $65,250 were incurred and were assigned to clients on the basis of direct labor-hours. Because 80 hours were not billable, some overhead was not assigned to jobs. RBS had $58,400 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 August. ☒Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an income statement for August. RUTLAND BUSINESS SERVICES Income Statement For the Month Ended August 31 Revenue from clients Less cost of services to clients: Labor Overhead Total cost of services to clients Gross margin Less other costs: Labor Marketing and administrative costs Overhead Total other costs Operating profit 0 $ 0 0 $ 0 < Required A Required B >

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 2PB: Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500...

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