The direct labor budget of Krispin Corporation for the upcoming fiscal year includes t

The direct
labor budget of Krispin Corporation for the upcoming fiscal year includes the
following budgeted direct labor-hours.

The
company’s variable manufacturing overhead rate is $1.75 per direct labor-hour
and the company’s fixed manufacturing overhead is $35,000 per quarter. The only
noncash item included in fixed manufacturing overhead is depreciation, which is
$15,000 per quarter.
Required:
Construct
the company’s manufacturing overhead budget for the upcoming fiscal year.
Compute the
company’s manufacturing overhead rate (including both variable and fixed
manufacturing overhead) for the upcoming fiscal year. Round off to the
nearest whole cent.

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