5 Connect Assignment Saved Help Save & Exit Submit Exercise 5-16 Overhead Application (LO3, LO5) Sportway Inc. produces high-quality tennis racquets and golf clubs using a patented forming process and high-quality hand-finishing Products move through two production departments: Forming and Finishing. The company uses departmental overhead rates to allocate overhead costs. Overhead is allocated based on machine-hours in Forming and direct labour cost in Finishing Information related to costs for last year is provided below Tennis Racquets 5,500 $ 5.00 Golf clubs 8,750 $ 3.90 Annual production and sales (units) Direct materials cost per unit Direct labour cost per unit: Forming Department Finishing Department Machine hours per unit: Forming Department Finishing Department $ $ 2.ee 8.50 $ 1.50 $ 9.00 0.25 0.25 0.00 0.50 In addition, the firm budgets manufacturing overhead at $43,250 in the Forming Department and $51,500 in the Finishing Department Required: 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) Help Save & Exit Submi Male Tuur per L. Forming Department Finishing Department 0.25 0.00 0.25 0.50 In addition, the firm budgets manufacturing overhead at $43,250 in the Forming Department and $51,500 in the Finishing Department Required: 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) Forming Finishing per MH per DLS 2. Determine the total cost per unit of tennis racquets and golf clubs. (Round your intermediate calculations and final answers to 2 decimal places.) Tennis Racquets Golf Clubs Total cost per unit