Business, 11.10.2020 23:01 hdwoody2002

TechMaster is an information technology (IT) consulting company offering services to small firm:s TechMaster bills clients for its various services based on the hours its professionals spend. In August, IT professionals billed 875 hours to clients and worked a total of 920 hours (the difference includes time for training, preparing bids, and so on, which are considered administrative costs). TechMaster bills clients at the rate of $200 per hour, labor cost for its IT professionals is $75 per hour. Overhead costs in August totaled $35,000. Overhead is applied to clients at $45 per labor-hour. In addition, TechMaster had $55,000 in marketing and administrative costs (including labor time as described above). 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.

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TechMaster is an information technology (IT) consulting company offering services to small firm:s Te...