Exercise $8-5($Algo$)$ Manufacturing Overhead Budget $[$LO$8-6]$

The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor$-$hours:

$1$st Quarter $2$nd Quarter $3$rd Quarter $4$th Quarter

Budgeted direct labor$-$hours $10,4009,4009,70010,500$

The company uses direct labor$-$hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $$5\mathrm{.}00$ per direct labor$-$hour and its total fixed manufacturing overhead is $$72,000$ per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $$18,000$ 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 year.