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The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details conceming budgeted direct labor-hours: The company uses direct labor-hours as its overheod 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 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 fiscol year 2. Compute the company's predetermined overhead rote (including both variable and fixed manufacturing overheac) for the upcoming fiscol 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 "Varlable manufactuaing overhead rate" answers to 2 deci places.) The direct labor budget of Yowwell Comporation for the upcoming fiscolyear contains the following detalls conceming budgeted direct. laborhours The company uses direct labor-hours as its overhead allocation bose. The variable portion of its predetermined manufacturing overhead rate is $7,00 per ditect labor-hour and its total foxd monufacturing overhead is $88,000 per quarter. The only noncarh item included in fixed manufacturing overhead is depreciation, which is $22.000 per quarter. Required: 1. Prepare the company's monufacturing overhesd budgat for the upcoming fiscolyeor. 2. Compute the compony's predetermined overhead rate (including both varioble and fixed manufacturing overheod) for the upcoming fiscal year: Complete this question by entering your answers in the tabs below. Compute the company's predetermined overhnod rate (induding both variable and fixed manufacturing overthead) for the upcoming fiscal year. (Round yore answer to 2 dedimal places.)