8 Bowen Company manufactures one product, it does not maintain any beginning or ending inventories, and its uses a standard cost System Its predetermined overhead iste includes $1000,000 of foed overhead in the numerator and 50.000 direct laborehours in the denominator The company purchased with cash) and used 47000 yards of raw materials at a cost of $1130 per yard its direct laborers worked 20,750 hours and were paid a total of $291500. The company started and completed 9,600 units of finished gooox during the period Bowen's standard cost card for its only product is as follows 10 Standard Quantity or Hours 4.5 yards 3.9 hours 3.9 hours Inputs Direct materats Direct labor Fixed manufacturing overhead Total standard cost per unit (2) Standard Price or Rate $17.50 per yard $14.00 per hour $20.00 per hour BOOK Standard Cost (1) (2) 3.78.75 54.60 78.00 5211.35 Print Reference Required: 1. When recording the raw material purchases & The Raw Materials inventory will increase (decrease by how much? b The Cash will increase (decrease) by how much? 2 When recording the raw materials used in production a The Raw Materials inventory will increase (decrease) by how much? b. The Work in Process inventory will increase (decrease) by how much? 3 When recording the direct labor costs added to production a The Work in Process inventory will increase (decrease) by how much? b. The Cash will increase (decrease) by how much? 4 When applying fixed manufacturing overhead to production, the Work in Process inventory will increase (decrease by how much? 5 when transferring manufacturing costs from Work in Process to Finished Goods, the Finished Goods inventory will increase (decrease) by how much? by by by ta. The raw materials will 16. The cash will 2a The raw mafenals will 2b. The work in process will 3 The work in process wil 3. The cash will by by by M 8 Bowen Company manufactures one product, it does not maintain any beginning or ending inventories, and its uses a standard cost System Its predetermined overhead iste includes $1000,000 of foed overhead in the numerator and 50.000 direct laborehours in the denominator The company purchased with cash) and used 47000 yards of raw materials at a cost of $1130 per yard its direct laborers worked 20,750 hours and were paid a total of $291500. The company started and completed 9,600 units of finished gooox during the period Bowen's standard cost card for its only product is as follows 10 Standard Quantity or Hours 4.5 yards 3.9 hours 3.9 hours Inputs Direct materats Direct labor Fixed manufacturing overhead Total standard cost per unit (2) Standard Price or Rate $17.50 per yard $14.00 per hour $20.00 per hour BOOK Standard Cost (1) (2) 3.78.75 54.60 78.00 5211.35 Print Reference Required: 1. When recording the raw material purchases & The Raw Materials inventory will increase (decrease by how much? b The Cash will increase (decrease) by how much? 2 When recording the raw materials used in production a The Raw Materials inventory will increase (decrease) by how much? b. The Work in Process inventory will increase (decrease) by how much? 3 When recording the direct labor costs added to production a The Work in Process inventory will increase (decrease) by how much? b. The Cash will increase (decrease) by how much? 4 When applying fixed manufacturing overhead to production, the Work in Process inventory will increase (decrease by how much? 5 when transferring manufacturing costs from Work in Process to Finished Goods, the Finished Goods inventory will increase (decrease) by how much? by by by ta. The raw materials will 16. The cash will 2a The raw mafenals will 2b. The work in process will 3 The work in process wil 3. The cash will by by by M