Question

Exercise 22-03 Thome and Cradle, CA, are preparing their servir for each department, by qual, are provided below (sas) budget for the coming year (2020). The practice is divided into the departme : auditing, lax, and consulting Billable hours Department Quarter 1 2,530 3,250 1,270 Quarter 2 1,850 2,680 1,770 Quarter 3 2,320 2,140 1,770 Quarter 4 2,740 2,690 Consulting Average hourlybill rates are auditing 58), Lax 504, and consulting $102. Prepare the cravine (sales) budget for 2020 by listing the departments and showing for each quarter and the year in tablable hours, billable rate, and total Total D t Billable Hour Billible at Total Rey Service Ravenue Budget

Answer 1

Quarter 1 Dept. Billable Hours Billable Rate Total Rev. Auditing 2,530 83 $ 209,990 Tax 3,250 94 $ 305,500 Consulting 1,770 102 $ 180,540 Totals $ 696,030 THOMAS AND CREDE, CPAS Service Revenue Bedget Quarter 2 Quarter 2 Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. 1,850 83 $ 153,550 2,320 83 $ 192,560 2,680 94 $ 251,920 2,140 94 $ 201,160 1,770 102 $ 180,540 1,770 102 $ 180,540 $ 586,010 $ 574,260 Quarter 2 Billable Hours Billable Rate Total Rev. 2,740 83 $ 227,420 2,690 94 $ 252,860 1,770 102 $ 180,540 $ 660,820 THOMAS AND CREDE, CPAS Service Revenue Bedget Year Billable Hours Billable Rate Total Rev. 9,440 83 $ 783,520 10,760 94 $ 1,011,440 7,080 102 $ 722,160 $ 2,517,120 Explanation: Total Rev. for each quarter = Billable Hours in each quarter X Billable Rate Billable Hours for year = Sum of Billable Hours of all 4 quarters Total Rev. for year = Billable Hours for year X Billable Rate