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, 20Y8: Billable Hours Audit Department: 39,300 Staff Partners 5,900 Tax Department: Staff 30,300 Partners 3,800 Small Business Accounting Department: Staff 5,100 Partners 700 The average billing rate for staff is $115 per hour, and the average billing rate for partners is $235 per hour. Prepare a professional fees earned budget for Rollins and Cohen, CPAS, for the year ending December 31, 20Y8 Rollins and Cohen, CPAS Professional Fees Earned Budget For the Year Ending December 31, 20Y8 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