Lopez company has a single employee, who earns a salary of $192,000 per year. that employee is paid on the 15th and last day of each month. on january 15, lopez is subject to the following payroll taxes: fica–social security taxes (at 6.2% of the first $118,500 each employee earns in the calendar year), fica–medicare taxes (at 1.45%), futa (at 0.6% of the first $7,000 each employee earns in the calendar year), and suta (at 5.4% of the first $7,000 each employee earns in the calendar year). the journal entry to record the employer's payroll tax expense and related liabilities would include a debit to:

The direct labor budget of yuvwell corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st quarter 2nd quarter 3rd quarter 4th quarterbudgeted direct labor-hours 11,200 9,800 10,100 10,900the company uses direct labor-hours as its overhead allocation base. the variable portion of its predetermined manufacturing overhead rate is $6.00 per direct labor-hour and its total fixed manufacturing overhead is $80,000 per quarter. the only noncash item included in fixed manufacturing overhead is depreciation, which is $20,000 per quarter.required: 1. prepare the company’s manufacturing overhead budget for the upcoming fiscal year.2. compute the company’s predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.