lundquist &Fretwell, CPAs offer three type of services to clients: auditing , tax and small business accounting . Based on experience and projected growth , the following billable hours have been estimated for the year endng May 31, 20Y8 billiable hours Audit Department -staff ---------25,000 partners--------6,000 Tax Department staff---40,000. Partners 8,500 small Business Accounting Department staff --------5,000 Partners ---- 500 the average bllngnrate fir staff is $140 per hour, and the average billing rate for partners is $450 per hour . prepare a professional fee earned earned budget for Lindquist & Fretwell, CPAs for the year ending May 3, 20Y8, using the following column headings and showing the estimated professional feesby type of service rendered. 1.) Billable hours 2.) Hourly Rate 3.) Total Revenue