Exercise 21-3 Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming...

Exercise 21-3 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. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,540 1,930 2,200 2,740 Tax 3,330 2,510 2,110 2,780 Consulting 1,730 1,730 1,730 1,730 Average hourly billing rates are auditing $83, tax $95, and consulting $103. 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 Quarter 1 Quarter 2 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting Totals $ $ THOME AND CREDE, CPAs Sales Revenue Budget Quarter 3 Quarter 4 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting Totals $ $ THOME AND CREDE, CPAs Sales Revenue Budget Year Dept. Billable Hours Billable Rate Total Rev. Auditing $ $ Tax Consulting Totals $

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Expert Solution

		THOME AND CREDE CPAs
		Sales Revenue Budget
		For the year ending December 31,2017
	Quarter 1			Quarter 2
Dept.	Billable hours	Billable rate	Total rev.	Billable hours	Billable rate	Total rev.
Auditing	2540	83	210820	1930	83	160190
Tax	3330	95	316350	2510	95	238450
Consulting	1730	103	178190	1730	103	178190
Totals			705360			576830

		THOME AND CREDE CPAs
		Sales Revenue Budget
		For the year ending December 31,2017
	Quarter 3			Quarter 4
Dept.	Billable hours	Billable rate	Total rev.	Billable hours	Billable rate	Total rev.
Auditing	2200	83	182600	2740	83	227420
Tax	2110	95	200450	2780	95	264100
Consulting	1730	103	178190	1730	103	178190
Totals			561240			669710

		THOME AND CREDE CPAs
		Sales Revenue Budget
		For the year ending December 31,2017
	Year
Dept.	Billable hours	Billable rate	Total rev.
Auditing	9410	83	781030
Tax	10730	95	1019350
Consulting	6920	103	712760
Totals			2513140

ekkarill92 answered 1 year ago

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