Question
Exercise 20-3 Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2012). The practice is divided into three departments:
Exercise 20-3 Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2012). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,520 1,920 2,120 2,570 Tax 3,320 2,690 2,220 2,690 Consulting 1,680 1,680 1,680 1,680 Average hourly billing rates are: auditing $81, tax $95, and consulting $103. Prepare the service revenue (sales) budget for 2012 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012, Quarter 1 Quarter 2 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting $ $ GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012, Quarter 3 Quarter 4 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting $ $ GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012, Year Dept. Billable Hours Billable Rate Total Rev. Auditing $ $ Tax Consulting $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started