Sportway Inc. produces high-quality tennis racquets and golf clubs using a patented forming process and high quale Products move through two production departments Forming and Finishing. The company uses departmentslove allocate overhead costs. Overhead is allocated based on machine hours in Forming and direct labour costing related to costs for last year is provided below Tennis Golf Club Racquets 6,700 18,550 $5.00 $4.10 Annual production and sales (units) Direct materiais cost per unit Direct labour cost per unit Forming Department Finishing Department Machine hours per unit: Forning Departeent Finishing Department $6.00 $ 8.50 $5.50 $ 6.00 8.25 8.25 0.50 In addition, the firm budgets manufacturing overhead at $61.250 in the Forming Department and $63,500 in the Finishing Department Required 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) Der 2. De to per una of tennis racquets and golf clubs. (Round your intermediate calculations and final answers to 2 Sportway Inc. produces high-quality tennis racquets and golf clubs using a patented forming process and high quy hand Products move through two production departments: Forming and Finishing. The company uses departmental overhead allocate overhead costs Overhead is allocated based on machine hours in Forming and direct labour cost in Finishing Hoon related to casts for last year is provided below. Tennis Racquets Golf Clubs 6,700 10,550 $5.00 $ 4.10 Annual production and sales (units) Direct materials cost per unit Direct Inheur cost per unit: Forning Department Finishing Department Machine hours per unit Forning Department Finishing Department $6.00 $8.50 $5.50 $6.00 0.25 0.25 0.00 0.50 In addition, the firm budgets manufacturing overhead at $61,250 in the Forming Department and $63,500 in the Finishing Department Required 1. Determine the overhead application rate for each department (Round your answers to 2 decimal places. Der som er interacquets and golf clubs. (Round your intermediate calculations and final answers to 2