The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor$-$hours:

$\backslash$table$[[$Budgeted direct labor$-$hours,$1$st Quarter,$2$nd Quarter,$3$rd Quarter,$4$th Quarter$],[,12,000,10,200,10,500,11,300]]$

The company uses direct labor$-$hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $$7\mathrm{.}00$ per direct labor$-$hour and its total fixed manufacturing overhead is $$88,000$ per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $$22,000$ per quarter.

Required:

Prepare the company's manufacturing overhead budget for the upcoming fiscal year.

Compute the company's predetermined overhead rate $($including both variable and fixed manufacturing overhead$)$ for the upcoming fiscal year.

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Required $1$

Prepare the company's manufacturing overhead budget for the upcoming fiscal year. $($Round "Variable manufacturing overhead rate" answers to $2$ decimal places.$)$

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