Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2022). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided here.

Average hourly billing rates are auditing $80, tax $90, and consulting $110.

Instructions

Prepare the service revenue (sales) budget for 2022 by listing the departments and showing billable hours, billable rate, and total revenue for each quarter and the year in total. Prepare quarterly production budgets.

Transcribed Image Text:

Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,300 1,600 2,000 2,400 Тах 3,000 2,200 2,000 2,500 Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Consulting 1,500 1,500 1,500 1,500