Question

Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2017). 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
Auditing		2,520		1,870		2,100		2,620
Tax		3,150		2,790		2,310		2,680
Consulting		1,770		1,770		1,770		1,770

Average hourly billing rates are auditing $82, tax $93, and consulting $102.

Prepare the service revenue (sales) budget for 2017 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 Sales Revenue Budget For the Year Ending December 31, 2017For the Quarter Ending December 31, 2017December 31, 2017
	Quarter 1			Quarter 2
Dept.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.
Auditing		$	$		$	$
Tax
Consulting
Totals			$			$

THOME AND CREDE, CPAs Sales Revenue Budget For the Year Ending December 31, 2017For the Quarter Ending December 31, 2017December 31, 2017
Quarter 3				Quarter 4
Dept.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.
Auditing		$	$		$	$
Tax
Consulting
Totals			$			$

THOME AND CREDE, CPAs Sales Revenue Budget For the Quarter Ending December 31, 2017For the Year Ending December 31, 2017December 31, 2017
Year
Dept.	Billable Hours	Billable Rate	Total Rev.
Auditing		$	$
Tax
Consulting
Totals			$

Answer 1

THOME AND CREDE, CPAs
Sales Revenue Budget
For the Year Ending December 31, 2017For the Quarter Ending December 31, 2017December 31, 2017
	Quarter 1			Quarter 2
Dept.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.
Auditing	$2,520	$82	$206,640	$1,870	$82	$153,340
							Tax	$3,150	$93	$292,950	$2,790	$93	$259,470
Consulting	$1,770	$102	$180,540	$1,770	$102	$180,540
Totals			$680,130			$593,350
THOME AND CREDE, CPAs
Sales Revenue Budget
For the Year Ending December 31, 2017For the Quarter Ending December 31, 2017December 31, 2017
Quarter 3				Quarter 4
Dept.	Billable Hours	Billable Rate	Total Rev.	Billable Hours	Billable Rate	Total Rev.
Auditing	$2,100	$82	$172,200	$2,620	$82	$214,840
Tax	$2,310	$93	$214,830	$2,680	$93	$249,240
Consulting	$1,770	$102	$180,540	$1,770	$102	$180,540
Totals			$567,570			$644,620
THOME AND CREDE, CPAs
Sales Revenue Budget
For the Quarter Ending December 31, 2017For the Year Ending December 31, 2017December 31, 2017
Year
Dept.	Billable Hours	Billable Rate	Total Rev.
Auditing	$9,110	$82	$747,020
Tax	$10,930	$93	$1,016,490
Consulting	$7,080	$102	$722,160
Totals			$2,485,670