In: Accounting
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 |
Quarter 1 |
Quarter 2 |
Quarter 3 |
Quarter 4 |
||||
---|---|---|---|---|---|---|---|---|
Auditing | 2,530 | 1,850 | 2,320 | 2,740 | ||||
Tax | 3,250 | 2,680 | 2,140 | 2,690 | ||||
Consulting | 1,770 | 1,770 | 1,770 | 1,770 |
Average hourly billing rates are auditing $83, tax $94, 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.
THOME AND CREDE, CPAs |
||||||
---|---|---|---|---|---|---|
Quarter 1 |
Quarter 2 |
|||||
Dept. |
Billable Hours |
Billable Rate |
Total Rev. |
Billable Hours |
Billable Rate |
Total Rev. |
Auditing |
enter a number of hours |
$enter a dollar amount |
$enter a dollar amount |
enter a number of hours |
$enter a dollar amount |
$enter a dollar amount |
Tax |
enter a number of hours |
enter a dollar amount |
enter a dollar amount |
enter a number of hours |
enter a dollar amount |
enter a dollar amount |
Consulting |
enter a number of hours | enter a dollar amount | enter a dollar amount | enter a number of hours | enter a dollar amount | enter a dollar amount |
Totals | $enter a total dollar amount | $enter a total dollar amount |
THOME AND CREDE, CPAs |
||||||
---|---|---|---|---|---|---|
Quarter 3 |
Quarter 4 |
|||||
Dept. |
Billable Hours |
Billable Rate |
Total Rev. |
Billable Hours |
Billable Rate |
Total Rev. |
Auditing |
enter a number of hours |
$enter a dollar amount |
$enter a dollar amount |
enter a number of hours |
$enter a dollar amount |
$enter a dollar amount |
Tax |
enter a number of hours |
enter a dollar amount |
enter a dollar amount |
enter a number of hours |
enter a dollar amount |
enter a dollar amount |
Consulting | enter a number of hours | enter a dollar amount | enter a dollar amount | enter a number of hours | enter a dollar amount | enter a dollar amount |
Totals |
$enter a total dollar amount |
$enter a total dollar amount |
THOME AND CREDE, CPAs |
|||
---|---|---|---|
Year |
|||
Dept. |
Billable Hours |
Billable Rate |
Total Rev. |
Auditing |
enter a number of hours |
$enter a dollar amount |
$enter a dollar amount |
Tax |
enter a number of hours |
enter a dollar amount |
enter a dollar amount |
Consulting |
enter a number of hours | enter a dollar amount | enter a dollar amount |
Totals | $enter a total dollar amount |
THOME AND CREDE CPAs | ||||||
Sales Revenue Budget | ||||||
For the year ending December 31,2020 | ||||||
Quarter 1 | Quarter 2 | |||||
Dept. | Billable hours | Billable rate | Total rev. | Billable hours | Billable rate | Total rev. |
Auditing | 2530 | 83 | 209990 | 1850 | 83 | 153550 |
Tax | 3250 | 94 | 305500 | 2680 | 94 | 251920 |
Consulting | 1770 | 102 | 180540 | 1770 | 102 | 180540 |
Totals | 696030 | 586010 | ||||
THOME AND CREDE CPAs | ||||||
Sales Revenue Budget | ||||||
For the year ending December 31,2020 | ||||||
Quarter 3 | Quarter 4 | |||||
Dept. | Billable hours | Billable rate | Total rev. | Billable hours | Billable rate | Total rev. |
Auditing | 2320 | 83 | 192560 | 2740 | 83 | 227420 |
Tax | 2140 | 94 | 201160 | 2690 | 94 | 252860 |
Consulting | 1770 | 102 | 180540 | 1770 | 102 | 180540 |
Totals | 574260 | 660820 | ||||
THOME AND CREDE CPAs | ||||||
Sales Revenue Budget | ||||||
For the year ending December 31,2020 | ||||||
Year | ||||||
Dept. | Billable hours | Billable rate | Total rev. | |||
Auditing | 9440 | 83 | 783520 | |||
Tax | 10760 | 94 | 1011440 | |||
Consulting | 7080 | 102 | 722160 | |||
Totals | 2517120 |