Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Vaughn and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2022). The practice is divided into three departments: auditing, tax,
Vaughn and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2022). 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 2.940 1,940 2,480 3,020 Tax 3,720 2,640 2,480 3,100 Consulting 1,860 1,860 1,860 1,860 Average hourly billing rates are auditing $ 60, tax $ 70, and consulting $ 90. Prepare the service revenue (sales) budget for 2022 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. VAUGHN AND CREDE, CPAS Service Revenue Budget Quarter 1 Quart: Billable Hours Billable Rate Total Rev. Billable Hours Billable $ $ $ $ Quarter 4 Billable Rate Total Rev. $ $ 69 $ VAUGHN AND CREDE, CPAS Service Revenue Budget Year Dept. Billable Hours Billable Rate Total Rev. Auditing $ TA $ 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