1&2

The direct labor budget of Yimwell Corporation for the upcoming fiscal year contains the following detals concerning budgeted direct laborthours: The company uses direct labor hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $3.50 per direct labor-hour and its total fixed manufacturing ovethead is $60,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $15000 per quarter Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2 Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal yeat. Complete this question by entering your answers in the tobs below. Prepare the company's manufacturing overhead budget for the upcoming fiscal year, (Round "Variablo manufacturing overhead rate" answers to 2 decimal places.)