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 7,000 $ 5.30 Golf clubs 11,000 $ 3.50 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 $ 1.00 $ 7.00 $ $ .50 9.00 0.25 0.00 0.25 0.50 In addition, the firm budgets manufacturing overhead at $65,750 in the Forming Department and $66,500 in the Finishing Department. Required: 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) per MH Forming Finishing per DL$ 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