Most solutions, inc., issued 10% bonds, dated january 1, with a face amount of $640 million on january 1, 2018. the bonds mature in 2028 (10 years). for bonds of similar risk and maturity the market yield is 12%. interest expense is recorded at the effective interest rate. interest is paid semiannually on june 30 and december 31. most recorded the sale as follows: january 1, 2018 cash (price) 566,589,440 discount on bonds (difference) 73,410,560 bonds payable (face amount) 640,000,000

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.