Question
Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three departments: auditing,
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 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,320 1,860 2,370 2,550 Tax 3,140 2,740 2,310 2,860 Consulting 1,770 1,770 1,770 1,770 Average hourly billing rates are auditing $83, tax $95, and consulting $103. 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. Quarter 1 THOME AND CREDE, CPAS Service Revenue Budget THOME AND CREDE, CPAS Service Revenue Budget Quarter 1 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Auditing $ $ Tax Consulting Totals Quarter 3 THOME AND CREDE, CPAS Service Revenue Budget ter 1 Rate THOME AND CREDE, CPAS Service Revenue Budget Quarter 2 Total Rev. Billable Hours Billable Rate Total Rev. $ $ $ Quarter 3 THOME AND CREDE, CPAS Service Revenue Budget THOME AND CREDE, CPAS Service Revenue Budget Quarter 3 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Auditing $ Tax Consulting Totals THOME AND CREDE, CPAS Service Revenue Budget $ THOME AND CREDE, CPAS Service Revenue Budget Quarter 4 Rate Total Rev. Billable Hours Billable Rate Total Rev. $ $ $ THOME AND CREDE, CPAS Service Revenue Budget THOME AND CREDE, CPAS Service Revenue Budget Year Dept. Billable Hours Billable Rate Total Rev. Auditing $ Tax Consulting Totals
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started