Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 9-3 (Video) Thome and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three

image text in transcribed

image text in transcribed

Exercise 9-3 (Video) 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 Quarter 2 Department Quarter 1 Quarter 3 Quarter 4 Auditing 2,480 1,920 2,300 2,570 3,170 2,510 2,300 2,640 Consulting 1,890 1,890 1,890 1,890 Average hourly billing rates are auditing $81, tax $93, 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 Ouarter 1 Quarter 2 Total Rev Total Rev Billable Hours Billable Rate Billable Hours Billable Rate Dept. Auditing $ $ $ x Consulting Totals THOME AND CREDE, CPAS Service Revenue Budget Quarter 3 Quarter 4 Total Rev Billable Hours Billable Rate Billable Hours Billable Rate Total Rey, Dept. Auditing $ $ x Consulting Totals THOME AND CREDE, CPAS Service Revenue Budget Totals THOME AND CREDE, CPAS Service Revenue Budget Year Total Rev. Billable Hourss Billable Rate Dept. Auditing $ $ | Consulting Totals TAK TO VIPre

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

Students also viewed these Accounting questions