8 In October, Temptations Event Planners (TEP) planned events for two clients. TEP worked 142 hours for Ward Corporation and 242 hours for Girardin Industries. TEP bills clients at the rate of $360 per hour; labor cost for its planning staff is $150 per hour. The total number of hours worked in October was 384, and overhead costs were $15,700. Overhead is applied to clients at $32 per planner- hour. In addition, TEP had $27,500 in marketing and administrative costs. All transactions are on account. All services were billed. Description 10 points Transaction Skipped (a) Record labor cost (b) Record applied service overhead (c) Record cost of services billed (d) Record actual service overhead eBook Required: References a. Show labor and overhead cost flows through T-accounts. b. Prepare an income statement for the company for October. Complete this question by entering your answers in the tabs below. Required A Required B Show labor and overhead cost flows through T-accounts. Wages Payable Work-in-Process Debit Credit Debit Credit Beginning balance Beginning balance Ending balance 0 Ending balance 0