Exercise 8-5 (Algo) Manufacturing Overhead Budget [LO8-6] The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following detalis concerning budgeted disect labor-hours: The company uses direct labor-hours as its overhead allocation base. The variable portion of its predefermined manufacturing overhead rate is $3.75 per direct labor-hour and its total fixed manufacturing overhead is $62.000 per quarter The only noncash inem! included in fixed manufacturing overhead is depreciation, which is $15,500 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 manuficturing ouethead) for the upcoming fiscal year: Complete this question by entering your answers in the tabs below