The direct labor budget of Yuvvel Corperation for the upcoming fiscal year contains the following details concerning budgeted direct lobor-hotse The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manutacturing overhead rate is $3.75 per direct laborhour and its total fixed manufacturing overthead is 562,000 per quater. The only noncash aem. included in foecd manufacturing overhead is depreciation, which is $15,500 per quarter. Required: 2. Compute the company's predetermined overhead rate (including both variable and foucd manufacturing overhesad for the upcoming ficcal year. Complete this question by entering your answers in the tabs below. Prepare the companys manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufactuing overhead rate" anowers to z cecimal The direct labor budget of Yuwwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: The company uses direct labor-hours as its overhead allocation base. The varlable portion of its predetermined manufacturing overhead rate is $3.75 per direct labor-hour and its total fixed manufacturing overhead is $62,000 per quartec. The only noncash item included in fixed manufacturing overhead is depreciation, which is $15,500 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. 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.)