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In October, Temptations Event Planners (TEP) planned events for two clients. TEP worked 144 hours for Ward Corporation and 244 hours for Girardin Industries. TEP

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In October, Temptations Event Planners (TEP) planned events for two clients. TEP worked 144 hours for Ward Corporation and 244 hours for Girardin Industries. TEP bills clients at the rate of $370 per hour; labor cost for its planning staff is $160 per hour. The total number of hours worked in October was 388 , and overhead costs were $15,800. Overhead is applied to clients at $32 per plannerhour. In addition, TEP had $28,000 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 October. Complete this question by entering your answers in the tabs below. Show labor and overhead cost flows through T-accounts. Complete this question by entering your answers in the tabs below. Prepare an income statement for the company for October

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