Managerial Accounting: Tools for Business Decision Making
7th Edition
ISBN: 9781118334331
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: WILEY
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Textbook Question
Chapter 9, Problem 9.3E
Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2017). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below.
Average hourly billing rates are auditing $80, tax $90, and consulting $110.
Instructions
Prepare the service revenue (sales) budget for 2017 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.
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Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below.
Department
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Quarter 1
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Quarter 2
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Quarter 3
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Quarter 4
Auditing
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2,330
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1,870
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2,120
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2,730
Tax
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3,150
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2,660
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2,330
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2,790
Consulting
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1,830
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1,830
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1,830
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1,830
Average hourly billing rates are auditing $81, tax $91, and consulting $104.
Prepare the service revenue (sales) budget for 2020 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.
THOME AND CREDE, CPAsService Revenue Budgetchoose the accounting period                                        For the Year Ending December 31, 2020December 31, 2020For the Quarter Ending December 31, 2020
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Quarter 1
Quarter 2
Dept.
Billable Hours…
Service 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.
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DepartmentQuarter 1Quarter 2Quarter 3Quarter 4
Auditing2,3001,6002,0002,400
Tax3,0002,2002,0002,500
Consulting1,5001,5001,5001,500
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Average hourly billing rates are auditing $80, tax $90, and consulting $110.InstructionsPrepare 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.
E9-3 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.
Quarter 1
Quarter 2
Quarter 4
Department
Auditing
Tax
Consulting
Quarter 3
2,300
3,000
1,500
1,600
2,200
1,500
2,000
2,000
1,500
2,400
2,500
1,500
Average hourly billing rates are auditing $80, tax $90, and consulting $100.
Instructions
Prepare the service revenue (sales) budget for 2014 by listing the departments and show-
ing for each quarter and the year in total, billable hours, billable rate, and total revenue.
Chapter 9 Solutions
Managerial Accounting: Tools for Business Decision Making
Ch. 9 - Prob. 1QCh. 9 - Prob. 2QCh. 9 - Prob. 3QCh. 9 - (a) Accounting plays a relatively unimportant role...Ch. 9 - What criteria are helpful in determining the...Ch. 9 - Lori Wilkins maintains that the only difference...Ch. 9 - Prob. 7QCh. 9 - What is budgetary slack? What incentive do...Ch. 9 - Prob. 9QCh. 9 - What budget is the starting point in preparing the...
Ch. 9 - The production budget shows both unit production...Ch. 9 - Alou Company has 20,000 beginning finished goods...Ch. 9 - In preparing the direct materials budget for Quan...Ch. 9 - The production budget of Justus Company calls for...Ch. 9 - Ortiz Companys manufacturing overhead budget shows...Ch. 9 - Everly Companys variable selling and...Ch. 9 - For Goody Company, the budgeted cost for one unit...Ch. 9 - Indicate the supporting schedules used in...Ch. 9 - Identify the three sections of a cash budget. What...Ch. 9 - Noterman Company has credit sales of 600,000 in...Ch. 9 - Prob. 21QCh. 9 - Prob. 22QCh. 9 - Maris Company uses the following budgets: balance...Ch. 9 - Paige Company estimates that unit sales will be...Ch. 9 - Sales budget data for Paige Company are given in...Ch. 9 - Perine Company has 2,000 pounds of raw materials...Ch. 9 - For Gundy Company, units to be produced are 5,000...Ch. 9 - For Roche Inc., variable manufacturing overhead...Ch. 9 - Elbert Company classifies its selling and...Ch. 9 - North Company has completed all of its operating...Ch. 9 - Kaspar Industries expects credit sales for...Ch. 9 - Moore Wholesalers is preparing its merchandise...Ch. 9 - Use this list of terms to complete the sentences...Ch. 9 - Pargo Company is preparing its master budget for...Ch. 9 - Pargo Company is preparing its budgeted income...Ch. 9 - Batista Company management wants to maintain a...Ch. 9 - Zeller Company estimates that 2017 sales will be...Ch. 9 - Trusler Company has always done some planning for...Ch. 9 - Edington Electronics Inc. produces and sells two...Ch. 9 - Thome and Crede, CPAs, are preparing their service...Ch. 9 - Turney Company produces and sells automobile...Ch. 9 - DeWitt Industries has adopted the following...Ch. 9 - On January 1, 2017, the Hardin Company budget...Ch. 9 - Rensing Ltd. estimates sales for the second...Ch. 9 - Fuqua Companys sales budget projects unit sales of...Ch. 9 - Rodriguez, Inc., is preparing its direct labor...Ch. 9 - Lowell Company makes and sells artistic frames for...Ch. 9 - Atlanta Company is preparing its manufacturing...Ch. 9 - Kirkland Company combines its operating expenses...Ch. 9 - Fultz Company has accumulated the following budget...Ch. 9 - Danner Company expects to have a cash balance of...Ch. 9 - Deitz Corporation is projecting a cash balance of...Ch. 9 - The controller of Trenshaw Company wants to...Ch. 9 - Nieto Companys budgeted sales and direct materials...Ch. 9 - Green Landscaping Inc. is preparing its budget for...Ch. 9 - Pletcher Denial Clinic is a medium-sized dental...Ch. 9 - In May 2017, the budget committee of Grand Stores...Ch. 9 - Emeric and Ellies Painting Service estimates that...Ch. 9 - PROBLEMS: SET A Cook Farm Supply Company...Ch. 9 - Deleon Inc. is preparing its annual budgets for...Ch. 9 - Hill Industries had sales in 2016 of 6,800,000 and...Ch. 9 - Colter Company prepares monthly cash budgets....Ch. 9 - The budget committee of Suppar Company collects...Ch. 9 - Prob. 9.6APCh. 9 - CURRENT DESIGNS Diane Buswell is preparing the...Ch. 9 - MANAGEMENT DECISION-MAKING Decision-Making Across...Ch. 9 - Elliot Hesse Inc. manufactures ergonomic devices...Ch. 9 - Real-World Focus Information regarding many...Ch. 9 - Prob. 9.4BYPCh. 9 - Broadening Your Ethics Case BYP9-5 You are an...Ch. 9 - All About You In order to get your personal...Ch. 9 - Prob. 9.7BYP
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