Yuvwell Corporation's direct labor budget for next year contained the following Information: Budgeted direct labor-hours 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 10,800 9,600 9,900 10,700 The company uses direct labor-hours as Its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $5.50 per direct labor-hour and its total fixed manufacturing overhead is $76,000 per quarter. The only noncash Item Included in fixed manufacturing overhead is depreciation of $19,000 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.