Sheffield corp. estimates its sales at 15 units in the first quarter and that sales will increase by 15000 units each quarter over the year. they have, and desire, a 25% ending inventory of finished goods. each unit sells for $25. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. the remainder is received in the quarter following sale. cash collections for the third quarter are budgeted

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.