The direct labor budget of Krispin Corporation for the upcoming fiscal year includes the following budgeted direct labor-hours. The company's variable manufacturing overhead rate is $1.75 per direct labor-hour and the company's fixed manufacturing overhead is $35,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $15,000 per quarter. Required: 1. Complete the company's manufacturing overhead budget for the upcoming fiscal year. Compute the company's manufacturing overhead rate including both variable and fixed manufacturing overhead) for the upcoming fiscal year