Exercise 8-5 (Algo) Manufacturing Overhead Budget [LO8-6] The direct labor budget of Yuwwell Corporation for the upcoming fiscal year contains the following detaits concerning budgeted direct labor-hours: The company uses direct labor hours as its overhead allocation base, The variable portion of its predetermined manufacturing overhead rate is $5.75 pet direct labochour and its total foxed manufacturing overhead is $78,000 per quater. The only noncash item included in fored manufacturing overhead is depreciation, which is $19.500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year, 2. Compute the company's predetermined overthead fate forcluding both variable and fixed manufacturing overhesd) for the upcoming fiscal yeac Complete this question by entering your answers in the tabs below. Prepare the company manufacturing overhead budaet for the upcoming fiscat vear. Alound Variabin manufacturing overhead fate" answers to 2 decimal places.) Exercise 8-5 (Algo) Manufacturing Overhead Budget [LO8-6] The direct labor budget of Yuwwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $5.75 per direct labor-hour and its total fixed manufacturing overhead is $78,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $19,500 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 tabs below. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places.)