Under his industrial award Danylko will receive a salary increase of three per cent in 20222023. Danylko has been notified that his council rates, water, gas, and insurance charges will increase by 5.25 per cent in 20222023. Danylko expects all other of his existing expenses (except net taxes and levies) to be 6.5 per cent higher on average in 20222023 than in 20212022.

** ** **

The question is, if Danylko said that his existing expenses (except net taxes and levies) to be 6.5 per cent higher on average in 20222023 than in 20212022.

Do I need to add/change them in his cash budget in 20222023 with the 6.5 per cent higher?

I ready changed his income by 3 per cent and changed his council rates, water, gas, and insurance charges will increase by 5.25 per cent in 20222023 because he has been notified.

Expenses
Member of a teacher's union
Car operating & registration
Car insurance - already increased by 5.25 per cent
Mobile Phone & Internet
Electricity
Council Rates - already increased by 5.25 per cent
Water Bill - already increased by 5.25 per cent
Gas Charges - already increased by 5.25 per cent
Grocery & Household Products
Clothing
Home & Contents Insurance - already increased by 5.25 per cent
Gym Membership
Medical & Other Health Related Costs
Eating Out & Entertainment

Answer rating: 100% (QA)

Yes based on the information provided you should include the expected increase of 65 ... View the full answer