(Answered) Question - thome and crede are preparing their services

Accounting

Question - Thome and Crede are preparing their services revenue (sales) budget for the coming year (2017). The practice is divided into three department: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below:

Department Quarter 1 Quarter 2 Quarter 3 Quarter 4

Auditing 2,300 1,600 2,000 2,400

Tax 3,000 2,200 2,000 2,500

Consulting 1,500 1,500 1,500 1,500

Average hourly billing rates are auditing $80, tax $90, and consulting $110

Instructions - Prepare the service revenue (sales) budget for 2017 by listings the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.

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