Exercise 8-5 Manufacturing Overhead Budget (L08-6] The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours 2nd Quarter Hudgeted direct labor. hours 1st Quarter 8,600 8,500 3rd Quartet Quarter 8.800 8,280 The company uses direct labor hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $275 per direct labor hour and its total fixed manufacturing overhead is $50,000 per quarter. The only noncash item Included in fixed manufacturing overhead is depreciation, which is $13,500 per quarter Required: 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 manufacturing overhead) for the upcoming fiscal year Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for the upcoming liscal year. (Round Variable manufacturing overheid Yato answers to 2 decimal places) Yuvweli Corporation Manufacturing Overhead Didget