In October, Temptations Event Planners $($TEP$)$ planned events for two clients. TEP worked $164$ hours for Ward

Corporation and $264$ hours for Girardin Industries. TEP bills clients at the rate of $$470$ per hour; labor cost for its

planning staff is $$260$ per hour. The total number of hours worked in October was $428,$ and overhead costs were

$$16,800.$ Overhead is applied to clients at $$32$ per planner$-$hour. In addition, TEP had $$33,000$ in marketing and

administrative costs. 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:

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.

$\backslash$table$[[$Required$,$Required$],[$A$,]]$

Show labor and overhead cost flows through T$-$accounts.