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Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2017)....

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Accounting

Thome and Crede, CPAs, are preparing their service revenue(sales) budget for the coming year (2017). The practice is dividedinto three departments: auditing, tax, and consulting. Billablehours for each department, by quarter, are provided below.Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,4501,840 2,330 2,710 Tax 3,130 2,650 2,300 2,800 Consulting 1,6401,640 1,640 1,640 Average hourly billing rates are auditing $84,tax $94, and consulting $105. Prepare the service revenue (sales)budget for 2017 by listing the departments and showing for eachquarter and the year in total, billable hours, billable rate, andtotal revenue.

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THOME AND CREDE CPAs
Sales Revenue Budget
For the year ending December 31,2017
Quarter 1 Quarter 2
Dept. Billable hours Billable rate Total rev. Billable hours Billable rate Total rev.
Auditing 2450 84 205800 1840 84 154560
Tax 3130 94 294220 2650 94 249100
Consulting 1640 105 172200 1640 105 172200
Totals 672220 575860
THOME AND CREDE CPAs
Sales Revenue Budget
For the year ending December 31,2017
Quarter 3 Quarter 4
Dept. Billable hours Billable rate Total rev. Billable hours Billable rate Total rev.
Auditing 2330 84 195720 2710 84 227640
Tax 2300 94 216200 2800 94 263200
Consulting 1640 105 172200 1640 105 172200
Totals 584120 663040
THOME AND CREDE CPAs
Sales Revenue Budget
For the year ending December 31,2017
Year
Dept. Billable hours Billable rate Total rev.
Auditing 9330 84 783720
Tax 10880 94 1022720
Consulting 6560 105 688800
Totals 2495240

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