Three grams of musk oll are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oll is $2.20 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3 : The inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 43,200 grams of musk oil will be on hand to start the first quarter of Year 2 . Required: Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2. The direct labor budget of Yuwwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manulacturing overhead rate is $7.00 per direct labor-hour and its total fixed manufocturing 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 manufocturing overhead) for the upcoming fiscal year. Complete this question by entering your answers in the tabs below. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead rate" answers to 2 decime phacet.) The direct labor budget of Yuwwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $7.00 per direct labor-hour and its total fixed manufacturing overhead is $88,000 per quarter. The only noncash itern 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. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year, (Round your answer to 2 decimal places.)