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QUESTION 2 Not complete Marked out of 3.00P 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 $30,000 46,000 370,000 94,000 39,000 21,000 23,000 22,000 70,000 $715,000 Supplies Temporary and seasonal wages Wages of full-time employees Supervisor salaries Rent Insurance Utilities MiscellaneOUs Contin gencies and equipment Total 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 sea sonal wages Supervisor salaries Rent Insurance Uhilinic Miscellaneous Contingencies and equipment Total