Exercise $8-5($Static$)$ Manufacturing Overhead Budget $[$LO$8-6]$

Yuvwell Corporation's direct labor budget for next year contained the following information:

Budgeted direct labor$-$hours

$1$st Quarter

$2$nd Quarter

$3$rd

Quarter

$4$th Quarter

$8,500$

$8,200$

$7,800$

The company uses direct labor$-$hours as its overhead allocation base. The variable portion of its predetermined manufacturing

overhead rate is $$3\mathrm{.}25$ per direct labor$-$hour and its total fixed manufacturing overhead is $$48,000$ per quarter. The only noncash item

included in fixed manufacturing overhead is depreciation of $$16,000$ per quarter.

Required:

Prepare the company's manufacturing overhead budget for next year.

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.

Required $1$

Required $2$

Prepare the company's manufacturing overhead budget for next year.

Note: Round "Variable manufacturing overhead rate" answers to $2$ decimal places.