Exercise 8-5 (Algo) Manufacturing Overhead Budget [LO8-6] Yuwwell Corporation's direct labor budget for noxt year contained the following information: The compary uses direct labor hours as its overhead allocaton base. The variable portion of its predetermined manufacturing overhead rase is $3.00 per ditect labor-hour and its fotal fixod manufacturing overhead is $56.000 per quartec. The only noncash item included in fixed manulacturing overhead is depreciation of $14,000 per quarter. Required: 1. Prepare the company's monufacturing overhead budget for next yeat. 2. Compute the company's predotermined overhead rate fincluding both variable and fiked manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Prepare the company's manufacturing overhead budget for next year. Prepare the company's manufactuning overhead budget for next yes. Note: flound "Vorlatie manufacturing overhead rate" answers to 2 decimal places. Prepare the company's manufacturing overthead budgot for next yeac Compute the company's predetermined overhead rate fincluding both variable and fixed manufacturing overheadf for next year Complete this question by entering your answers in the tabs below. Prepare the company's manutacturing overhead budget for next vear. Note: Round "Varlable manufacturing oyerthead rate' answers to 2 decimal places. The company uses soect iabor hours as its overtead allocetion base. The varisble portion of as predetermined marvitacturing included in fixed manufacturng overthead is depreciation of $14,000 per quarter Required: 1 Prepare the company manufacturing everhead budget for nest year Complete this question by entering vour anwwers in the tabs belew. vear Noket aound vour anzer to 2 decomei places