Question:
Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2014). 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 |
|
2,590 |
|
1,830 |
|
2,370 |
|
2,580 |
| Tax |
|
3,140 |
|
2,520 |
|
2,300 |
|
2,650 |
| Consulting |
|
1,610 |
|
1,610 |
|
1,610 |
|
1,610 |
Average hourly billing rates are auditing $82, tax $93, and consulting $101.
Prepare the service revenue (sales) budget for 2014 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.