Professional Fees Earned Budget

Roberts and Chou, 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, 2014:

		Billable Hours
Audit Department:
	Staff	32,000
	Partners	4,800
Tax Department:
	Staff	24,300
	Partners	3,000
Small Business Accounting Department:
	Staff	4,200
	Partners	600

The average billing rate for staff is $125 per hour, and the average billing rate for partners is $245 per hour.

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Prepare a professional fees earned budget for Roberts and Chou, CPAs, for the year ending December 31, 2014.

Roberts and Chou, CPAs
Professional Fees Earned Budget
For the Year Ending December 31, 2014
		Billable Hours		Hourly Rate		Total Revenue
Audit Department:
Staff		Correct 9		$ Correct 10		$ Correct 11
Partners		Correct 13		Correct 14		Correct 15
Total		Correct 17				$ Correct 18
Tax Department:
Staff		Correct 21		$ Correct 22		$ Correct 23
Partners		Correct 25		Correct 26		Correct 27
Total		Correct 29				$ Correct 30
Small Business Accounting Department:
Staff		Correct 33		$ Correct 34		$ Correct 35
Partners		Correct 37		Correct 38		Correct 39
Total		Correct 41				$ Correct 42
Total professional fees earned						$ Correct 44