Yumwell Corporation's direct labor budget for next year contained the following information: The company uses direct labor-hours as its overhead allocation bose. The variable portion of its predetermined manufacturing overhead rate is $3.50 per direct laborthour and its total fixed manufacturing overhead is $60,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation of $15,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year: 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Prepare the company's manufacturing overhead budget for next year. Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places