The direct laber budget of Yuwwell Corporation for the upcoming fiscal year contains the following detalls concerning budgeted direct the dabor.hours: The compary uses direct laborhours as its overhead allocation base. The variabie portion of its predetermined monufocturing ovechead rate is $7.00 per direct labochour and its total fixed manufacturing overhead is $88.000 per quartec. The only noncash ilem included in fixed manufacturing overhead is depreciation, which is $22.000 per quarter. Required: 1. Prepare the company's manufacturing overheod budget for the upcoming fiscal yeac. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overbead) for the upcoming fiscal year. Complete this question by entering your answers in the tabs below. Dlecen:) The direct labor budget of Yirwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct laborhours: The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing? overhead rate is $7.00 per direct labor-hour and its total fixed manufacturing overhead is $88,000 per quarter. The only noncash iteen included in fixed manufacturing overhead is depreciation, which is $22,000 per quarter. Required: 1. Prepare the compary's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fiked manufacturing overhead) for the upcoming fiscal year: Complete this question by entering your answers in the tabs below. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overtiead) for the upcoming fiscal year. (Round your answer to 2 decimal places.)