Roberts and Chou, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31, 2010:

The average billing rate for staff is $130 per hour, and the average billing rate for partners is $250 per hour. Prepare a professional fees earned budget for Roberts and Chou, CPAs, for the year ending December 31, 2010, using the following column headings and showing the estimated professional fees by type of service rendered:Billable Hours Hourly Rate TotalRevenue

Transcribed Image Text:

Billable Hours Audit Department Staff Partners 32,400 4,800 Tax Department: Staff Partners Small Business Accounting Department: Staff 24,800 3,100 4,500 Partners 630