Exercise 8-5 (Algo) Monufacturing Overhead Budget [LO8-6] The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct Tabor-hours: The company uses direct labor-hours as its overhead allocation base The variable portion of its predetermined manufacturing overhead rate is $4.75 per direct labor hour and its total fixed manufacturing overhead is $70.000 per quarten. The only noncash ifem included in fixed manufacturing overhead is depreciation, which is $17,500 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 fuxed manufacturing overhead) for the upcoming fiscal year Complete this question by entering your answers in the tabs below. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overthead rate" answers placen-)