Exercise 21-3

Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2014). 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		2,510		1,890		2,320		2,730
Tax		3,320		2,780		2,180		2,740
Consulting		1,860		1,860		1,860		1,860

Average hourly billing rates are auditing $81, tax $94, and consulting $104. Prepare the service revenue (sales) budget for 2014 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.