Sadie & Chipper, 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 year ending March 31, 20Y6: Billable Hours Audit Department: Staff 25,000 Partners 5,000 Tax Department: Staff 37,500 Partners 8,000 Small Business Accounting Department: Staff 10,000 Partners 2,000 The average billing rate for staff is $180 per hour, and the average billing rate for partners is $400 per hour. Prepare a professional fees earned budget for Sadie & Chipper, CPAS, for the year ending March 31, 20Y6.
Sadie & Chipper, 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 year ending March 31, 20Y6: Billable Hours Audit Department: Staff 25,000 Partners 5,000 Tax Department: Staff 37,500 Partners 8,000 Small Business Accounting Department: Staff 10,000 Partners 2,000 The average billing rate for staff is $180 per hour, and the average billing rate for partners is $400 per hour. Prepare a professional fees earned budget for Sadie & Chipper, CPAS, for the year ending March 31, 20Y6.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The average billing rate for staff is $180 per hour, and the average billing rate for partners is $400 per hour.
Prepare a professional fees earned budget for Sadie & Chipper, CPAS, for the year ending March 31, 20Y6.
SADIE & CHIPPER, CPAS
Professional Fees Earned Budget
For the Year Ending March 31, 20Y6
Billable Hours
Hourly Rate
Total Revenue
Audit Department:
Staff
Partners
Total
Tax Department:
Staff
Partners
Total
Small Business Accounting Department:
Staff
Partners
Total
Total professional fees earned](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc8f4468-8832-43a6-8ae6-5aa7fc542a7b%2Fc35d6f55-6935-4824-8aac-afee536cd579%2Fj4w6ubj_processed.png&w=3840&q=75)
Transcribed Image Text:The average billing rate for staff is $180 per hour, and the average billing rate for partners is $400 per hour.
Prepare a professional fees earned budget for Sadie & Chipper, CPAS, for the year ending March 31, 20Y6.
SADIE & CHIPPER, CPAS
Professional Fees Earned Budget
For the Year Ending March 31, 20Y6
Billable Hours
Hourly Rate
Total Revenue
Audit Department:
Staff
Partners
Total
Tax Department:
Staff
Partners
Total
Small Business Accounting Department:
Staff
Partners
Total
Total professional fees earned
![Professional Fees Earned Budget
Sadie & Chipper, 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 year ending March 31, 20Y6:
Billable Hours
Audit Department:
Staff
25,000
Partners
5,000
Tax Department:
Staff
37,500
Partners
8,000
Small Business Accounting Department:
Staff
10,000
Partners
2,000
The average billing rate for staff is $180 per hour, and the average billing rate for partners is $400 per hour.
Prepare a professional fees earned budget for Sadie & Chipper, CPAS, for the year ending March 31, 20Y6.
SADIE & CHIPPER, CPAS
Professional Fees Earned Budget
For the Year Ending March 31, 20Y6
Billable Hours Hourly Rate Total Revenue
Audit Department:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc8f4468-8832-43a6-8ae6-5aa7fc542a7b%2Fc35d6f55-6935-4824-8aac-afee536cd579%2Fggmm5j_processed.png&w=3840&q=75)
Transcribed Image Text:Professional Fees Earned Budget
Sadie & Chipper, 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 year ending March 31, 20Y6:
Billable Hours
Audit Department:
Staff
25,000
Partners
5,000
Tax Department:
Staff
37,500
Partners
8,000
Small Business Accounting Department:
Staff
10,000
Partners
2,000
The average billing rate for staff is $180 per hour, and the average billing rate for partners is $400 per hour.
Prepare a professional fees earned budget for Sadie & Chipper, CPAS, for the year ending March 31, 20Y6.
SADIE & CHIPPER, CPAS
Professional Fees Earned Budget
For the Year Ending March 31, 20Y6
Billable Hours Hourly Rate Total Revenue
Audit Department:
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