Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three departments: auditing, tax,
Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Auditing Quarter 1 2,360 3,180 1,770 Quarter 2 1,760 2,560 1,770 Quarter 3 2,230 2,130 1,770 Quarter 4 2,590 2,860 1,770 Tax Consulting Average hourly billing rates are auditing $83, tax $94, and consulting $104. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. THOME AND CREDE, CPAs Service Revenue Budget Quarter 2 Billable Rate Dept. Quarter 1 Billable Rate Billable Hours Total Rev. Billable Hours Total Rev. Auditing Tax Consulting Totals THOME AND CREDE, CPAs Service Revenue Budget Quarter 3 Billable Hours Billable Rate Quarter 4 Billable Rate Dept. Total Rev. Billable Hours Total Rev. Auditing Tax Consulting Totals THOME AND CREDE, CPAs Service Revenue Budget Year Billable Hours Billable Rate Dept. Total Rev. Auditing Tax Consulting Totals
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started