The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following detalls concerning budgeted direct labor-hours: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor-hours 19,868 9,688 9,988 19,788 The company uses direct labor-hours as its overhead allocation base. The varlable portion of Its predetermined manufacturing overhead rate is $5.50 per direct labor-hour and lts total fixed manufacturing overhead Is $76,000 per quarter. The only noncash Item Included In fixed manufacturing overhead Is depreclation, which Is $19,000 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