James owns a home in Lake Tahoe, Nevada, that he rented for $5,800 for 40 days during the summer. He lived there for a total of 120 days, and the rest of the year the house was vacant. The expenses for the home included $6,600 in mortgage interest, $1,140 in property taxes, $1,780 in maintenance and utilities, and $3,340 in depreciation. What is his net income or loss from the rental of his home (without considering the passive loss limitation)

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.