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The direct labor budget of Krispin Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours.
1st QTR 2nd QTR 3rd QTR 4th QTR
Budgeted direct labor-hours: 5,000 4,800 5,200 5.400

The company's variable manufacturing overhead rate of $1,75 per direct labor-hour and the company's fixed manufacturing overhead of $35,000 per quarter. The only noncash item included in the fixed manufacturing overhead is depreciation, which is $15,000 this quarter.

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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This solution is comprised of a detailed explanation to construct the company's manufacturing overhead budget for the upcoming fiscal year and compute the company's manufacturing overhead rate.

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Manufacturing Overhead Budget
The direct labor budget of Krispin Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours.
1st QTR 2nd QTR 3rd QTR 4th QTR
Budgeted direct labor-hours: 5,000 4,800 5,200 ...

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