During October of 2016, TPA CPA, Inc. provided accounting works for the following companies: Saint Leo University: 2,000 hours of auditing City of Tampa: 600 hours of financial report preparations FICPA: 1000 hours of consulting services TPA CPA invoiced $160 per hour for their services with the labor costs at $60 per hour. It generated 3,600 hours, but 400 hours were not billable to all clients. TPA CPA had overhead costs of $60,000, which assigned to all clients on the basis of direct-lab hours. Some overhead costs did not assign to all jobs. Furthermore, TPA CPA incurred $60,000 in selling and administrative costs. Services to all three clients were on account as of 11/4/2016.

Please use excel program to complete the following:

1- What are the revenue and cost for each client from the above list?

2- Create an income statement for TPA CPA Inc. at the end of October 2016.

Answer rating: 100% (QA)

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