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 p Direct materials cost per unit Direct labour cost per unit: Racquets Clubs 5,680 8,900 $ 5.10 4.00 ion and sales (units) s1.00$ se 6.00 $ 5.00 Forming Machine hours per unit: 0.25 0.25 0.00 8.5 Forming In addition, the firm budgets manufacturing overhead at $44750 in the Forming Department and $52.500 in the Finishing Department Requi 1. Determine the overhead application rate for each department. (Round your answers to 2 decimal places.) per MH