Professional Fees Earned Budget for a Service Company Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the month ending January 31, 20Y7: Billable Hours Audit Department: Staff Partners Tax Department: 43,700 6,600 Staff 33,200 Partners 4,200 Small Business Accounting Department: Staff 5,700 800 Partners The average billing rate for staff is $105 per hour, and the average billing rate for partners is $225 per hour. Prepare a professional fees earned budget for Rollins and Cohen, CPAs, for the month ending January 31, 2017. ROLLINS AND COHEN, CPAS Professional Fees Earned Budget For the Month Ending January 31, 20Y7 Audit Department: Staff Partners Total Billable Hourly Total Hours Rate Revenue Tax Department: Staff Partners Total Small Business Accounting Department: Staff Partners Total Total professional fees earned QO QO QOQ QOQQİ

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 7E: Professional foes earned budget for a service company LundquistFret well. CPAs, offer three types of...
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Professional Fees Earned Budget for a Service Company
Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the month ending January 31, 20Y7:
Billable Hours
Audit Department:
Staff
Partners
Tax Department:
43,700
6,600
Staff
33,200
Partners
4,200
Small Business Accounting Department:
Staff
5,700
800
Partners
The average billing rate for staff is $105 per hour, and the average billing rate for partners is $225 per hour.
Prepare a professional fees earned budget for Rollins and Cohen, CPAs, for the month ending January 31, 2017.
ROLLINS AND COHEN, CPAS
Professional Fees Earned Budget
For the Month Ending January 31, 20Y7
Audit Department:
Staff
Partners
Total
Billable
Hourly
Total
Hours
Rate
Revenue
Tax Department:
Staff
Partners
Total
Small Business Accounting Department:
Staff
Partners
Total
Total professional fees earned
QO QO
QOQ QOQQİ
Transcribed Image Text:Professional Fees Earned Budget for a Service Company Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the month ending January 31, 20Y7: Billable Hours Audit Department: Staff Partners Tax Department: 43,700 6,600 Staff 33,200 Partners 4,200 Small Business Accounting Department: Staff 5,700 800 Partners The average billing rate for staff is $105 per hour, and the average billing rate for partners is $225 per hour. Prepare a professional fees earned budget for Rollins and Cohen, CPAs, for the month ending January 31, 2017. ROLLINS AND COHEN, CPAS Professional Fees Earned Budget For the Month Ending January 31, 20Y7 Audit Department: Staff Partners Total Billable Hourly Total Hours Rate Revenue Tax Department: Staff Partners Total Small Business Accounting Department: Staff Partners Total Total professional fees earned QO QO QOQ QOQQİ
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