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:

$\backslash$table$[[,1$st Quarter,$2$nd Quarter,$3$ rd Quarter,$4$ th Quarter$],[$Budgeted direct labor$-$hours,$11,600,10,000,10,300,11,100]]$

The company uses direct labor$-$hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $$6\mathrm{.}50$ per direct labor$-$hour and its total fixed manufacturing overhead is $$84,000$ per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $$21,000$ per quarter.

Required:

Prepare the company's manufacturing overhead budget for the upcoming fiscal year.

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.$)$

$\backslash$table$[[$Yuvwell Corporation,,,,,$],[$Manufacturing Overhead Budget,,,,,$],[,1$st Quarter,$2$nd Quarter,$3$rd Quarter,$4$th Quarter,Year$],[,,,,,],[$Variable manufacturing overhead rate,,,,,$]]$