Domino Consulting has two departments, Information Technology Consulting and General Business Consulting. The firm has Partners, Senior Consultants and Junior Consultants in each department. The firm is preparing its budgets for the upcoming year. The controller received the following information from the marketing department about anticipated demand for the firm’s products in the upcoming year: Department: Total Professional Hours: Information Technology 32,000 General Business 40,000 The controller then worked with the human resources department to determine the following information about staffing and salary rates for each department: Information Technology General Business Ratio of partner hours: senior consultant hours: junior consultant hours 1:2:7 1:2.5:6.5 Salary Rates per hour: Partner $150 $125 Senior Consultant $75 $60 Junior Consultant $40 $30 The controller has also determined that in order to be profitable, billing rates should be three times the amount paid to employees. The marketing department has determined that billing rates computed on that basis are comparable to what other consulting firms charge. 

(a) Prepare a revenue budget for Domino Consulting Company. 

(b) Prepare a labor budget for Domino Consulting Company julie1994.

Answer rating: 100% (QA)

A Revenue Budget CALCULATION PARTICULAR EMPLOYEES COST A Senior consultant 1080000 B Junior Consulta... View the full answer