Exercise 8-5 (Static) Manufacturing Overhead Budget [LOB-6] Yuvwell Corporation's direct labor budget for next year contained the following information: lst Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor-hours 8,000 8,200 8,500 7,800 The company uses direct laborhours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $325 per direct labor-hour and its total fixed manufacturing overhead is $48,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation of $16,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for next year. Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places. Variable manufacturing overhead rate Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Cash disbursements for manufacturing overhead Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Note: Round your answer to 2 decimal places. Predetermined overhead rate for the year