Slegworth Products produces Industrial cleaning products. Data concerning budgeted direct labor-hours for Slegworth for the next year follows: Budgeted direct labor-hours 1st Quarter 9,600 2nd Quarter 9,880 3rd Quarter 9,300 4th Quarter 10,100 Siegworth uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $4.00 per direct labor-hour and its total fixed manufacturing overhead is $64,000 per quarter. The only noncash item Included In fixed manufacturing overhead is depreciation, which is $16,000 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