13-42. Executive Solutions is a strategy consulting firm. Other than the senior leadership (who manage the firm, but do not actively consult), the managers and staff are billed to clients on an hourly basis. The workload varies quite a bit from month to month requiring careful planning. Managers are billed to clients at a rate of $900 per hour and staff at a rate of $450 per hour. Managers are paid $225 per hour worked (including non-billable time) and staff are paid $125 per hour. The current plan calls for managers to bill 1,200 hours in month of May. Staff are expected to bill 6,400 hours in month of May. Managers will work a total of 2,400 hours in May and staff will work a total of 9,600 hours. Other monthly costs (all fixed) are $550,000 Selling & Administrative, $225,000 in depreciation, and $350,000 in marketing. Question 12: What is total budgeted revenue for May? Question 13: What is total budgeted expenses for May?