August For August, Royal Consulting and Mediation Practice (RCMP) worked 900 hours for Alberta Company and 2,100 hours for Ontario Corporation. RCMP bills clients at the rate of $400 per hour; labor cost for its consulting staff is $200 per hour. The total number of hours worked in August was 3,000, and overhead costs were $60,000. Overhead is applied to clients at $24 per labor-hour. In addition, RCMP had $240,000 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.

If temper company, a manufacturer of mattresses, was considering moving its production facilities to china but decided against it because the additional costs of shipping the mattresses back to the u.s. would offset the cost savings associated with moving the production facilities, the increased costs associated with shipping would be an example ofanswers: learning-curve economies.diseconomies of scale.economies of scale.competitive advantages.

Ds unlimited has the following transactions during august. august 6 purchases 58 handheld game devices on account from gamegirl, inc., for $140 each, terms 2/10, n/60. august 7 pays $340 to sure shipping for freight charges associated with the august 6 purchase. august 10 returns to gamegirl three game devices that were defective. august 14 pays the full amount due to gamegirl. august 23 sells 38 game devices purchased on august 6 for $160 each to customers on account. the total cost of the 38 game devices sold is $5,448.51. required: record the transactions of ds unlimited, assuming the company uses a perpetual inventory system. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. round your answers to 2 decimal places.)

What is one counter argument to the premise that the wealth gap is a serious problem which needs to be addressed?