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In October, Temptatlons Event Planners (TEP) planned events for two cllents. TEP worked 168 hours for Ward Corporatlon and 26g hours for Glrarcin incustries. TEP
In October, Temptatlons Event Planners (TEP) planned events for two cllents. TEP worked 168 hours for Ward Corporatlon and 26g hours for Glrarcin incustries. TEP bilis clients at the rate of $490 per hour; labor cost for its planning staff is $280 per hour. The total number of hours worked In October was 436 , and overhead costs were $17,000. Overhead is applled to cllents at $32 per plannerhour. in adolton, TEP had $34,000 in marketing and adminlstrative costs. All transactions are on account. All serwlces were billed. Required: a. 5now labor and overheso cost flows through T-accounts. b. Prepare an income statement for the company for Octobec. Complete this question by entering your answers in the tabs below. Show labar and overhesd cost flows throuch T-accaunts
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