Siegworth Products produces industrial cleaning products. Data concerning budgeted direct labor-hours for Siegworth for the next year follows: Budgeted direct labor-hours 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 10,200 9,300 9,600 10,400 Siegworth 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 quarter. The only noncash item 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 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 fiscal year. (Round "Variable manufacturing overhead rate" answers to 2 decimal places.) Siegworth Products Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Variable manufacturing overhead rate Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Cash disbursements for manufacturing overhead Siegworth Products produces industrial cleaning products. Data concerning budgeted direct labor-hours for Siegworth for the next year follows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 10,200 9,300 9,600 10,400 Budgeted direct labor-hours Siegworth uses direct labor-hours as its overhead allocation base. The variable portion of i predetermined manufacturing overhead rate is $4.75 per direct labor-hour and its total fixed manufacturing overhead is $70,000 per quarter. The only noncash item 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 fixed manufacturing overhead) for the upcoming fiscal year. 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 the upcoming fiscal year. (Round your answer to 2 decimal places.) Predetermined overhead rate for the year