Lyons & Rappaport, CPAs, budgeted for the following professional labor hours for the coming year: partners, 4,000;
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Lyons & Rappaport, CPAs, budgeted for the following professional labor hours for the coming year: partners, 4,000; managers, 10,000; and staff, 25,000. Budgeted billing rates are: partners, $250 per hour; managers, $120 per hour; and staff accountants, $80 per hour.
Prepare a revenue budget for the year ending December 31, 2013.
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