Exercise 8-5 (Algo) Manufacturing Overhead Budget (LO8-6) The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: Budgeted direct labor-hours 1st Quarter 9,000 2nd Quarter 3rd Quarter 4th Quarter 9,000 8,700 8,400 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $3.25 per direct labor-hour and its total fixed manufacturing overhead is $58,000 per quarter. The only noncash It Included in fixed manufacturing overhead is depreciation, which is $14,500 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 upc fiscal year. Complete this question by entering your answers in the tabs below. Required 1 Required 21 Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead ate" answers to 2 decimal places.) Ole manufacturing overhead rate le manufacturing overhead manufacturing overhead anufacturing overhead Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year