PLEASE HELP .I DONT UNDERSTAND HOW TO FIGURE OUT CONTINGENCIES AND EQUIPMENT.

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 $15,000 Temporary and seasonal wages 23,000 Wages of full-time employees 185,000 Supervisor salaries 47,000 Rent 39,000 Insurance 21,000 Utilities 23,000 Miscellaneous 11,000 Contingencies and equipment 35,000 Total $399,000 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 Answer 15,300 Temporary and seasonal wages Answer 23,920 Wages of full-time employees Answer 192,400 Supervisor salaries Answer 48,880 Rent Answer 39,000 Insurance Answer 22,260 Utilities Answer 23,920 Miscellaneous Answer 11,220 Contingencies and equipment Answer 0 Total Answer 0 Feedback Partially correct Marks for this submission: 2.40/3.00. Copyright 2022 Cambridge Business Publishers , All Rights Reserved | Terms of Use | Privacy Policy | Ter