Professional Fees Earned Budget for a Service Company Rollins and Cohen, CPAs, offer three types 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 ending December 31, 2016: Billable Hours Audit Department: Staff 22,400 Partners 7,900 Tax Department: Staff 13,200 5,500 Partners Small Business Accounting Department: Staff 3,000 600 Partners The average billing rate for staff is $150 per hour, and the average billing rate for partners is $320 per hour. Prepare a professional fees earned budget for Rollins and Cohen, CPAs, for the year ending December 31, 2016. Rollins and Cohen, CPAS Professional Fees Earned Budget For the Year Ending December 31, 2016 Billable Hours Hourly Rate Total Revenue Audit Department: Staff Partners Total Tax Department: Staff Partners Total Small Business Accounting Department: Staff Partners Total Total professional fees earned