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. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,580 1,910 2,370 2,660 Tax 3,390 2,530 2,100 2,840 Consulting 1,830 1,830 1,830 1,830 Average hourly billing rates are auditing $84, tax $94, and consulting $104. 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. GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2014 Quarter 1 Quarter 2 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting $ $ GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2014 Quarter 3 Quarter 4 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting $ $ GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2014 Year Dept. Billable Hours Billable Rate Total Rev. Auditing $ $ Tax Consulting $ Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

Hours rate Quarter 1 2 3 total of year Audit 84 2580 1910 2370 2660 9520 TaX 94 3390 2530 2100 2840 10860 consulting 104 1830 1830 1830 1830 7320 total hours 7800 6270 6300 7330 27700 Quarter 1 2 3 4 total of year AUDIT 216720 160440 199080 223440 799680 TAX 318660 237820 197400 266960 1020840 Consulting 190320 190320 190320 190320 761280 total service revenue 725700 588580 586800 680720 2581800

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