Question 1 Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2012). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,590 1,810 2,230 2,750 Tax 3,220 2,700 2,240 2,630 Consulting 1,870 1,870 1,870 1,870 Average hourly billing rates are: auditing $84, tax $93, and consulting $104. Prepare the service revenue (sales) budget for 2012 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012 Quarter 1 Quarter 2 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting $ $ GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012 Quarter 3 Quarter 4 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting $ $ GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012 Year Dept. Billable Hours Billable Rate Total Rev. Auditing $ $ Tax Consulting $ LINK TO TEXT LINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER Copyright © 2000-2014 by John Wiley & Sons, Inc. or related companies. All rights reserved. Question 2 Stanton Company is planning to produce 1,000 units of product in 2012. Each unit requires 1.50 pounds of materials at $7.50 per pound and a half-hour of labor at $15.20 per hour. The overhead rate is 80% of direct labor. (a) Compute the budgeted amounts for 2012 for direct materials to be used, direct labor, and applied overhead. Direct materials $ Direct labor $ Overhead $ (b) Compute the standard cost of one unit of product. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost $ Question 3 In Harley Company it costs $32 per unit ($19 variable and $13 fixed) to make a product that normally sells for $49. A foreign wholesaler offers to buy 3,930 units at $25 each. Harley will incur special shipping costs of $1 per unit. Assuming that Harley has excess operating capacity. Indicate the net income (loss) Harley would realize by accepting the special order. (If an amount reduces the net income for Increase (Decrease) column then enter with a negative sign preceding the number e.g. -15,000 or parenthesis, e.g. (15,000). Enter all other amounts in all other columns as positive and subtract where necessary.) Reject Order Accept Order Net Income Increase (Decrease) Revenues $ $ $ Costs—Manufacturing Shipping Net income/(los ...