Homework Help is Here – Start Your Trial Now!
Business
Accounting
Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). 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 Auditing 1,730 Tax Consulting 2,500 3,250 1.780 2,750 1,780 Quarter 3 Quarter 4 2,400 2,400 1.780 2,690 2,720 1,780 Average hourly billing rates are auditing $85, tax $94, and consulting $105. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.

Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). 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 Auditing 1,730 Tax Consulting 2,500 3,250 1.780 2,750 1,780 Quarter 3 Quarter 4 2,400 2,400 1.780 2,690 2,720 1,780 Average hourly billing rates are auditing $85, tax $94, and consulting $105. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Please do not give image format
Thome and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2020). 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 1,730 ===== 3,250 2,750 1,780 Auditing Tax Consulting 2,500 1,780 2,400 2,400 1,780 2,690 2,720 1,780 Average hourly billing rates are auditing $85, tax $94, and consulting $105. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.
Transcribed Image Text:Thome and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2020). 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 1,730 ===== 3,250 2,750 1,780 Auditing Tax Consulting 2,500 1,780 2,400 2,400 1,780 2,690 2,720 1,780 Average hourly billing rates are auditing $85, tax $94, and consulting $105. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.
Average hourly billing rates are auditing $85, tax $94, and consulting $105. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. Dept. Auditing Tax Consulting Totals Dept. Auditing Tax Consulting Totals Dept. Auditing Tax Show Transcribed Text Consulting Billable Hours Totals Billable Hours $ Billable Hours $ Quarter 1 Billable Rate Quarter 3 $ G Billable Rate THOME AND CREDE, CPAS Service Revenue Budget Year $ Billable Rate $ $ THOME AND CREDE, CPAS Service Revenue Budget $ Total Rev. THOME AND CREDE, CPAS Service Revenue Budget Total Rev. Billable Hours Total Rev. Billable Hours $ $
Transcribed Image Text:Average hourly billing rates are auditing $85, tax $94, and consulting $105. Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. Dept. Auditing Tax Consulting Totals Dept. Auditing Tax Consulting Totals Dept. Auditing Tax Show Transcribed Text Consulting Billable Hours Totals Billable Hours $ Billable Hours $ Quarter 1 Billable Rate Quarter 3 $ G Billable Rate THOME AND CREDE, CPAS Service Revenue Budget Year $ Billable Rate $ $ THOME AND CREDE, CPAS Service Revenue Budget $ Total Rev. THOME AND CREDE, CPAS Service Revenue Budget Total Rev. Billable Hours Total Rev. Billable Hours $ $
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Determination of Tax Liability
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS