The RadControls for WPF and the Reporting Tool are separate products and if you need both of them, you'll have to purchase two licenses (one for the WPF controls and one for the Reporting).
Another option for you would be to purchase the Telerik Premium Collection for .NET suite. The license costs $1299 per seat and by purchasing it, you'll receive all the following product lines: ASP.NET AJAX/WinForms/WPF/Silverlight/Telerik reporting/Telerik OpenAccess ORM. For me that's the most cost effective option for you.
I hope the provided information is helpful. if I can be of further assistance, please let me know.