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 Golt Racquets Clubs 5,900 9,350 $ 5.40 $ 4.30 Annual production and sales (units) Direct materials cost per unit Direct labour cost per unit: Foring Department Finishing Department Machine-hours per unit: Forning Department Finishing Department $5.00 $ 4.50 $ 7.50 $ 8.00 0.25 0.00 0.25 0.50 In addition, the firm budgets manufacturing overhead at $49,250 in the Forming Department and $55,500 in the Finishing Department Required: 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) Forming Finishing $ 12.92 per MH $ 11.87 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 Total cost per unit Golf Clubs $ 2597