The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following detalls 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 $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 depreclation, 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 varlable and fixed manufacturing overhead) for the upcoming fiscal year. Complete this question by entering your answers in the tabs below. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead rate" answers places.) The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contaIns the following detalls 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 $4.00 per direct labor-hour and its total fixed manufacturlng overhead is $64,000 per quarter. The only noncash item Included in fixed manufacturing overhead is depreclation, 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 varlable 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.)