Exercise 8-5 (Algo) Manufacturing Overhead Budget [LO8-6] The direct labor budget of Yuwwell Corporation for the upcoming fiscal year contains the following detalls concerning budgeted dicect tabor hours: The company uses direct labor-hours as its overhead allocation base. The vatlable portlon of its predetermined manufocturing overhead rate is $2.50 per direct labor-hour and its total fixed manufacturing overhead is $52.000 per quarter. The only nonensh item included in fixed manufacturing overhead is depreciation, which is $13,000 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 voriable and fixed manufacturing overhead) for the upcoming fiscal vear. Coniptece this question by entering your answers in the tabs below. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "varlable manufacturing overbead rate" answers fo 2 ifekinal places.) Exercise 8-5 (Algb) Manufacturing Overhead Budget [LO8-6] The direct labor budget of Yuwwell Corporation for the upcoming fiscal year contains the following defalis concerning budge4ed dired latror-hours: The-company uses direct labor hours as its overhead allocation base. The varlable portion of its predetermined manufacturing overhead rate is $2.50 per direct labor-hour and its total fixed manufacturing overhead is $52,000 per quartec. The only noncash item included in fixed manufacturing overhead is depreciation, which is $13,000 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 fiscat yeat. Complete this question by entering your answers in the tabs below. Wu putit the company's predetermined overhead rate (including both variable and fixed manufacturing overtiead) for the iupecoming tiscal year (Round your answer to 2 decimal places.)