Slegworth Products produces Industrial cleaning products. Data concerning budgeted direct labor-hours for Siegworth for the next year follows: 1st Quarter 2nd Quarter 9,000 8,700 3rd Quarter 9,000 4th Quarter 3,400 Budgeted direct labor-hours Siegworth uses direct labor hours 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 $58,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $14.500 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. Regioned 1 Required 2 Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead for the wpcoming fiscal year round your answer to 2 decimal places Prodetermined overhead tale for the year