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, 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 | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | ||||
---|---|---|---|---|---|---|---|---|
Auditing | 2,510 | 1,730 | 2,170 | 2,770 | ||||
Tax | 3,250 | 2,540 | 2,380 | 2,750 | ||||
Consulting | 1,690 | 1,690 | 1,690 | 1,690 |
Average hourly billing rates are auditing $83, tax $91, and consulting $101. 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 1 Billable Rate Quarter 2 Billable Hours Billable Rate Dept. Billable Hours Total Rev. 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 Dept. Billable Hours Billable Rate Total Rev. Auditing $ $ Tax Consulting Totals $
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