Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crede and Rensing, CPAs are preparing their service revenue (sales) budget for the coming year 2011. The practice is divided into three departments: auditing, tax,

Crede and Rensing, CPAs are preparing their service revenue (sales) budget for the coming year 2011. The practice is divided into three departments: auditing, tax, & consulting. Billable hours for each department is by quarter, and info is provided below. Department #1 #2 #3 #4 auditing 2116 1549 1979 2487 tax 2912 2464 2051 2416 consulting 1474 1474 1474 1474 Average hourly billing rates are: auditing $81, tax, $89, and consulting $104 Complete the service revenue sales budget for 2011 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. Quater:1 Dept Billiable Hours Billable Rate Total Revenue auditing 2116 $81 $171396 tax 2912 89 259168 consulting 1474 104 153296 totals 583860 Quarter: 2 auditing 1549 81 125469 tax 2464 89 219296 consulting 1474 104 153296 totals 498061 Quarter: 3 auditing 1979 81 160299 tax 2051 89 182539 consulting 1474 104 153296 totals 496134 Quarter: 4 auditing 2487 81 201447 tax 2416 89 215024 consulting 1474 104 153296 totals 569767 Directions: Below is area that I am having trouble computing. I would think it would be the averages or total amounts of each group, but it's none of those thoughts. How would you figure out the totals for each department? Below with ??? is the area that needs to be answered. Totals Auditing ??? 81 ??? tax ??? 89 ??? consulting ??? 104 ??? Totals ???

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cryptocurrency 101 The Millennials Guide To Understanding And Investing In Crypto

Authors: Candide Ahouandjinou, Jamal Modica

979-8387066771

More Books

Students also viewed these Accounting questions

Question

d. What language(s) did they speak?

Answered: 1 week ago