The direct labour budget of Yati Company for the upcoming fiscal year contains the following details concerning budgeted direct labour-hours: Budgeted direct labour-hours 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8,000 8,500 9,000 7,500 The company's variable manufacturing overhead rate is $3 per direct labour-hour and the company's fixed manufacturing overhead is $48,000 per quarter. The only noncash item included in the fixed manufacturing overhead is depreciation, which is $16,000 per quarter. All expenses are paid in the period incurred. Required: 1. Construct the company's manufacturing overhead budget for the upcoming fiscal year. Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Less: amortization Cash disbursements for manufacturing overhead Yati Company Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 2. Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overheads) for the upcoming fiscal year. (Round your answer to 2 decimal places.) Manufacturing overhead rate