Ogleby Company is preparing its manufacturing overhead budget for 2011. Relevant data consist of the following: Budgeted units to be produced by quarters: First Quarter: 10,000 units Second Quarter: 12,000 units Third Quarter: 14,000 units Fourth Quarter: 16,000 units Direct labor: 1 hour per unit Variable Overhead Costs per direct labor hour: $2.60 per unit Fixed overhead costs by QUARTER: $68,000. 1. How much is the budgeted total manufacturing overhead for the year? (e.g. $100,000) What is the pre-determined manufacturing overhead rate that will be used to apply overhead to the product? (e.g. $5.00)