Waterway and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2022). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Auditing Tax Consulting 3,040 3,840 1,920 Quarter 2 2,000 2,720 1,920 Quarter 3 Quarter 4 2,560 2,560 1,920 3,120 3,200 1,920 Average hourly billing rates are auditing $70, tax $80, and consulting $100.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Waterway and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2022). The practice is divided into
three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below.
Department Quarter 1
Auditing
Tax
Consulting
3,040
3,840
1,920
Quarter 2
2,000
2,720
1,920
Quarter 3 Quarter 4
2,560
2,560
1,920
3,120
3,200
1,920
Average hourly billing rates are auditing $70, tax $80, and consulting $100.
Prepare the service revenue (sales) budget for 2022 by listing the departments and showing for each quarter and the year in total,
billable hours, billable rate, and total revenue.
Transcribed Image Text:Waterway and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2022). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Auditing Tax Consulting 3,040 3,840 1,920 Quarter 2 2,000 2,720 1,920 Quarter 3 Quarter 4 2,560 2,560 1,920 3,120 3,200 1,920 Average hourly billing rates are auditing $70, tax $80, and consulting $100. Prepare the service revenue (sales) budget for 2022 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
WATERWAY AND CREDE, CPAS
Service Revenue Budget
Billable Hours
$
Year
Billable Rate
$
$
Total Rev.
Transcribed Image Text:Dept. Auditing Tax Consulting Totals WATERWAY AND CREDE, CPAS Service Revenue Budget Billable Hours $ Year Billable Rate $ $ Total Rev.
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