E$9-3$ Preparing a revenue budget

Chiao and Piaker, CPAs, budgeted for the following professional

labor hours for the coming year: partners, $1,500$; managers,

$5,000$; and staff, $20,000.$ Budgeted billing rates are: partners,

$$250$ per hour; managers, $$120$ per hour; and staff accountants,

$$80$ per hour.

Prepare a revenue budget for the year ending December $31,$