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please solve using these numbers and show working/ logic In October, Temptations Event Planners (TEP) planned events for two clients. TEP worked 160 hours for
please solve using these numbers and show working/ logic
In October, Temptations Event Planners (TEP) planned events for two clients. TEP worked 160 hours for Ward Corporation and 260 hours for Girardin Industries. TEP bills clients at the rate of $450 per hour; labor cost for its planning staff is $240 per hour. The total number of hours worked in October was 420 , and overhead costs were $16,600. Overhead is applied to clients at $32 per plannerhour. In addition, TEP had $32,000 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 OctoberStep by Step Solution
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