2. AA & Associates is a legal firm specializing in conveyancing and family law. They require a revenue budget by month for the quarter ending March 2019. They have supplied the following information: Conveyancing: The revenue budget for the same quarter last year was: AA & Associates Revenue Budget for Conveyancing for the quarter ended 31 March 2018 Service/month Total fees ($) 3,850 4,400 5,400 $13,650 Hours Fees ($) 70 55 January February March 80 55 90 60 Total 240 It is anticipated that the hours will increase by; 10% January February March 15% 20% The hourly rate will increase by $5 for each month. Family law: Month Total case load hours for the industry 1,800 1,800 1,800 Anticipated market share (%) January February March 7 8. 8. • AA & Associates charge a flat rate of $70 per hour for family law
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Please help me to prepare revenue budget..
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