Thome and Crede, CPAs, are preparing their service revenue (sales) budget for th

Question

Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2017). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below DepartmentQuarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing Tax Consulting 2,300 3,000 1,500 1,600 2,200 1,500 2,000 2,000 1,500 2,400 2,500 1,500 Average hourly billing rates are auditing $80, tax $90, and consulting $110 Prepare the service revenue (sales) budget for 2017 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 Sales Revenue Budget Quarter1 Quarter 2 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev Auditing Tax Consulting Totals

Explanation / Answer

Sales revenue budget :

Sales revenue budget :

Sales revenue budget :

Quarter 1 Quarter 2 Dept Billable hours Billable rate Total rev Billable hours Billable rate Total revenue Auditing 2300 80 184000 1600 80 128000 Tax 3000 90 270000 2200 90 198000 Consulting 1500 110 165000 1500 110 165000 Totals 619000 491000

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