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 Ist unter 2nd Quarter Sed quarter4th Quarter 12.000 10,200 10,500 11,300 The company uses direct lobor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $700 per direct lobor-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: 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 Variable manufacturing overhead rate Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead cash disbursements for manufacturing overhead The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct Inbor-hours: Ist Otternd Quarter Ird Quarter th Quarter Dudgeted direct labor-hours 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 $700 per direct labor-hour and its total fived manufacturing overhead is $88,000 per quarter. The only noncash Item Included in foed manufacturing overhead is depreciation, which is $22,000 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 variable and fixed manufacturing overhead) for the upcoming fiscal your Complete this question by entering your answers in the tabs below. Required Required 2 Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming Piscal year Cound your answer to 2 decimal places.) Predetermined teed rate for the year