Question

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		2,500		1,700		2,130		2,570
Tax		3,290		2,580		2,230		2,860
Consulting		1,860		1,860		1,860		1,860

Average hourly billing rates are auditing $83, tax $92, and consulting $101.

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 Service Revenue Budget choose the accounting period For the Quarter Ending December 31, 2020December 31, 2020For the Year Ending December 31, 2020
	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 Service Revenue Budget choose the accounting period December 31, 2020For the Quarter Ending December 31, 2020For the Year Ending December 31, 2020
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 Service Revenue Budget choose the accounting period December 31, 2020For the Quarter Ending December 31, 2020For the Year Ending December 31, 2020
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

Answer 1

Answer

For the Year Ending December 31, 2017
	Quarter 1			Quarter 2			Quarter 3			Quarter 4			Year
Dept.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.
Auditing	2500	$83	$207,500	1700	$83	$141,100	2130	$83	$176,790	2570	$83	$213,310	8900	$83	$738,700
Tax	3290	$92	$302,680	2580	$92	$237,360	2230	$92	$205,160	2860	$92	$263,120	10960	$92	$1,008,320
Consulting	1860	$101	$187,860	1860	$101	$187,860	1860	$101	$187,860	1860	$101	$187,860	7440	$101	$751,440
TOTAL			$698,040			$566,320			$569,810			$664,290			$2,498,460