Exercise 8-5 Manufacturing Overhead Budget (L06] The direct labor budget of Krispin Corporation for the upcoming fiscal year includes the following budgeted direct labor -hours. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor -hours 4,850 4,800 5,250 5.800 The company's variable manufacturing overhead rate is $2.50 per direct Labor -hour and the company's fixed manufacturing overhead is S33.00) per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $16,000 per quarter. Required: 1. Complete the company?s manufacturing overhead budget for the upcoming fiscal year. (Input all amounts as positive values. Omit the $ sign in your response.) 2. Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places. Omit the $ sign in your response.) Predetermined manufacturing overhead rate $