The direct labour budget of Small Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labour-hours: First Quarter 6,200 Second Quarter 6,000 Third Quarter 6,400 Fourth Quarter 6,600 Budgeted direct labour-hours The company's variable manufacturing overhead rate is $2.35 per direct labour-hour, and the company's fixed manufacturing overhead is $39,000 per quarter. The only non- cash item included in the fixed manufacturing overhead is depreciation, which is $15,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. SMALL CORPORATION Manufacturing Overhead Budget First Quarter Second Quarter Third Quarter Fourth Quarter Year Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead Compute the company's manufacturing overhead rate (including both variable and 2. fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places.) Predetermined overhead rate for the year