Check my work Exercise 8-5 (Algo) Manufacturing Overhead Budget (L08-6] The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours 1st Quarte Quarter and Garten Budgeted direct labor hours 4th Quarter 1,200 1,500 3.600 0.000 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $2 25 per direct labor hour and its total foxed manufacturing overhead is $50,000 per quarter. The only noncash item included in foed manufacturing overhead is depreciation, which is $12.500 per quartet 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 year Check requirea: 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 year Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for the upcoming fiscal year (Round Variable manufacturing overhead rate? answers to 2 decimal places.) 3id Quarter 4th Quarter Year Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter Budgeted direct labor hours Variable manufacturing overhead rate Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Los Depreciation Cash disbursements for manufacturing overhead 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 fiscal year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the company's predetermined overhead rate (Induding both variable and fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places.) Predatormined overhead rate for the year