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: 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 Tennis Golf Racquets Clubs 5,100 8,150 $4.60 $ 3.50 $4.00 $3.50 $ 6.50 $ 5.00 0.25 0.00 0.25 0.50 In addition, the firm budgets manufacturing overhead at $37,250 in the Forming Department and $47,500 in the Finishing Department. Required: 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) Forming Finishing $ 11.25 per MH $ 11.66 per DLS