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, 20Y7:

		Billable Hours
Audit Department:
	Staff	32,900
	Partners	4,900
Tax Department:
	Staff	25,000
	Partners	3,100
Small Business Accounting Department:
	Staff	3,900
	Partners	500

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, 20Y7.

ROLLINS AND COHEN, CPAs
Professional Fees Earned Budget
For the Year Ending December 31, 20Y7
	Billable Hours	Hourly Rate	Total Revenue
Audit Department:
Staff	fill in the blank 1	$fill in the blank 2	$fill in the blank 3
Partners	fill in the blank 4	fill in the blank 5	fill in the blank 6
Total	fill in the blank 7		$fill in the blank 8
Tax Department:
Staff	fill in the blank 9	$fill in the blank 10	$fill in the blank 11
Partners	fill in the blank 12	fill in the blank 13	fill in the blank 14
Total	fill in the blank 15		$fill in the blank 16
Small Business Accounting Department:
Staff	fill in the blank 17	$fill in the blank 18	$fill in the blank 19
Partners	fill in the blank 20	fill in the blank 21	fill in the blank 22
Total	fill in the blank 23		$fill in the blank 24
Total professional fees earned			$fill in the blank 25