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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 Tax Consulting Quarter 1 2,310 3,140 1,680 Quarter 2 1,710 2,500 1,680 Quarter 3 2,170 2,240 1,680 Quarter 4 2,790 2,890 1,680 Average hourly billing rates are auditing $82, tax $92, and consulting $102. 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.
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