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
	Partners	5,500
Small Business Accounting Department:
	Staff	3,000
	Partners	600

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