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Budgeting Process and Incremental Budgeting : A manufacturing company uses an incremental budgeting approach for its production department. The budget for the upcoming year is

Budgeting Process and Incremental Budgeting: A manufacturing company uses an incremental budgeting approach for its production department. The budget for the upcoming year is based on a 5% increase over the current year's budgeted expenses. If the current year's budgeted expenses are $500,000, calculate the budgeted expenses for the upcoming year and discuss the advantages and disadvantages of using incremental budgeting.

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