Assignment Problem: 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
|
2,360
|
1,760
|
2,230
|
2,590
|
Tax
|
3,180
|
2,560
|
2,130
|
2,860
|
Consulting
|
1,770
|
1,770
|
1,770
|
1,770
|
Average hourly billing rates are auditing $83, tax $94, and consulting $104.
Required: 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.
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