Rollins and Cohen, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending December 31, 2016:

		Billable Hours
Audit Department:
	Staff	22,400
	Partners	7,900
Tax Department:
	Staff	13,200
	Partners	5,500
Small Business Accounting Department:
	Staff	3,000
	Partners	600

The average billing rate for staff is $150 per hour, and the average billing rate for partners is $320 per hour.

Prepare a professional fees earned budget for Rollins and Cohen, CPAs, for the year ending December 31, 2016.

 

Transcribed Image Text:

Rollins and Cohen, CPAs Professional Fees Earned Budget For the Year Ending December 31, 2016 Audit Department: Staff Partners Total Tax Department: Staff Partners Total Small Business Accounting Department: Staff Partners Total Total professional fees earned Billable Hours Hourly Rate Total Revenue Rollins and Cohen, CPAs Professional Fees Earned Budget For the Year Ending December 31, 2016 Audit Department: Staff Partners Total Tax Department: Staff Partners Total Small Business Accounting Department: Staff Partners Total Total professional fees earned Billable Hours Hourly Rate Total Revenue

Answer rating: 100% (QA)

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