Incremental Budget dicating time to go through the budgeting process. Wood County uses an incremental approach to budgeting. The current year cash budget for the Wood County Department of Motor Vehicles is presented as follows: Se vary and seasonal wages. Wof full-time employees Sosor salaries, F UT Mataneous.. Congencies and equipment Total REQUIRED $ 12,000 32,000 200,000 60,000 48,000 16,000 10,000 9,600 25,000 $412,600 LO2 Prepare an incremental cash budget for next year, assuming the planned total budget increase is 3%. Budget details include a budget increment for salaries and wages of 3%, no change in rent, and 2.5% increases in the budget for supplies and miscellaneous. Utility companies have received ap- provals for rate increases amounting to 2% and insurance companies have announced an increase of 1% (Hint: The Contingencies and equipment budget is a plug.) LO3