Garza and Neely, CPAs, are preparing their service revenue (sales) budget for th

Question

Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2014). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Average hourly billing rates are auditing $63, tax $95, and consulting $102. Prepare the service revenue (sales) budget for 2014 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.

Explanation / Answer

Sales Budget Quarter - wise:

Sales Budget for the year:

Dept. Quarter 1 Quarter 2 Billable Hours Billable Rate$ Total Revenue$ Billable Hours Billable Rate$ Total Revenue$ Auditing 2500 83 207500 1940 83 161020 Tax 3300 95 313500 2710 95 257450 Consulting 1810 102 184620 1810 102 184620

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