Exercise 22-03

Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). 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		2,310		1,710		2,170		2,790
Tax		3,140		2,500		2,240		2,890
Consulting		1,680		1,680		1,680		1,680

Average hourly billing rates are auditing $82, tax $92, and consulting $102. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.

THOME AND CREDE, CPAs Service Revenue Budget choose the accounting period
	Quarter 1			Quarter 2
Dept.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.
Auditing
Tax
Consulting
Totals

THOME AND CREDE, CPAs Service Revenue Budget choose the accounting period
Quarter 3				Quarter 4
Dept.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.
Auditing
Tax
Consulting
Totals

THOME AND CREDE, CPAs Service Revenue Budget choose the accounting period
Year
Dept.	Billable Hours	Billable Rate	Total Rev.
Auditing
Tax
Consulting
Totals