Question: 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 |
|
2,510 |
|
1,780 |
|
2,390 |
|
2,760 |
| Tax |
|
3,250 |
|
2,750 |
|
2,250 |
|
2,630 |
| Consulting |
|
1,660 |
|
1,660 |
|
1,660 |
|
1,660 |
Average hourly billing rates are auditing $83, tax $93, and consulting $105.
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.