The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: Budgeted direct labor-hours 1st Quarter 2nd Quarter 8,600 8,500 3rd Quarter 4th Quarter 8,200 8,800 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $2.75 per direct labor-hour and its total fixed manufacturing overhead is $54,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $13,500 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. Required 1 Required 2 Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead rate" answers to 2 decimal places.) Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted direct labor-hours 8,600 Variable manufacturing overhead rate $ 2.75 $ 8,500 2.75 $ Variable manufacturing overhead $ 23,650 $ 23,375 $ 8,800 2.75 $ 24,200 $ 8.200 34,100 2.75 $ 2.75 22,550 $ 93,775 Fixed manufacturing overhead 54,000 54,000 54,000 54,000 216,000 Total manufacturing overhead 77,650 77,375 78,200 76,550 309,775 Less: Depreciation (13,500) (13,500) (13,500) (13,500) (54,000) Cash disbursements for manufacturing overhead $ 64,150 $ 63,875 $ 64,700 $ 63,050 $ 255,775