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 departimental 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 5,600 $ 5.10 Golf Clubs 8,90 $ 4.00 Annual production and sales (units) Direct materials cost per unit Direct labour cost per unit: Forning Department Finishing Department Machine hours per unit: Forning Department Finishing Department $1.00 $6.00 15.00 8.25 8.00 0.25 8.50 In addition, the firm budgets manufacturing overhead at $44750 in the Forming Department and $52,500 in the Finishing Department In addition, the firm budgets manufacturing overhead at $44.750 in the Forming Department and $52,500 in the Finishing Department Required: 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) Forming Finishing per M 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