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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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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 2 years ago
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