Question

13 Not complete Maried out of 100 Flag question Incremental Budget Wood County uses an incremental approach to budgeting. The 2016 cash budget for the Wood County Department of Motor Vehicles is presented as follows: Supplies $30,000 Temporary and seasonal wages 46.000 Wages of full-time employees 170.000 Supersianes 94.000 99.000 21.000 21000 Support Contingences and equipment 70.000 $15,000 Required Prepare an incremental cash budget for 2017, assuming the planned total budget increase is 2.5 percent. Budget details include a budget increment for salaries and wages of 4 percent, no change in rent, and 2 percent increases in the budget for supplies and miscellaneous. Utility companies have received approvals for rate increases amounting to 4 percent and insurance companies have announced an increase in premiums of 6 percent. (Hint: The Contingencies and equipment 2017 budget is a plug) Wood County Department of Motor Vehicles incremental Budget For the Year 2017 Supplies Temporary and season Wages of time employees OOOOOOOOO Contingencies and equipment Check

Answer 1

ANSWER

	Existing	Changes	Budget
Supplies	$ 30,000	2% Increase	$ 30,600
Temporary and Seasonal Wages	$ 46,000	4% Increase	$ 47,840
Wages of Full Time employees	$370,000	4% Increase	$384,800
Supervisor salaries	$ 94,000	4% Increase	$ 97,760
Rent	$ 39,000	No Change	$ 39,000
Insurance	$ 21,000	6% Increase	$ 22,260
Utilities	$ 23,000	4% Increase	$ 23,920
Miscellaneous	$ 22,000	2% Increase	$ 22,440
Contingencies and Equipment	$ 70,000	Balancing	$ 64,255
	$715,000	2.5% increase	$732,875

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