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 Golf Racquet Clubs 5,300 8,450 $ 4.80 $ 3.70 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 $6.00 $ 5.50 $7.50 $ 7.00 0.25 0.00 0.25 0.50 In addition, the firm budgets manufacturing overhead at $40,250 in the Forming Department and $49,500 in the Finishing Department Required: 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) Forming Finishing Der MH per DLS 2. Determine the total cost per unit of tennis racquets and golf clubs (Round your intermediate calcutations and final answers to 2 decimal places.) Tennis Racquets Golf Clubs Total cost per Unit