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Prepare a fees income budget for the year

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Question - Hay and List is a firm of accountants. Between them, the two partners work 2,800 hours per annum. The current charge-out rate is $200 per hour.

Next year the charge out rate will increase by 10%. The firm's current market share of billable hours is 10% and this is expected to grow to 15% next year.

Required - Prepare a fees income budget for the year. Use the layout below to show your workings.

Reference no: EM133008043

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