Exercise 8-5 (Algo) Manufacturing Overhead Budget [LO8-6] The direct labor budget of Yuwell 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 $2.75 per direct labor-hour and its total fixed manufacturing overhead is $54,000 per quarter. The only noncash item included in floed manufacturing overhead is depreciation, which is $13,500 per quarter. Required: 1. Prepare the company's manufacturing overheod budget for the upcoming fiscal yeac. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year