Bowen Company manufactures one product, it does not maintain any beginning or ending inventories and its uses a standard cost system. Its predetermined overhead rate includes $1,000,000 of fixed overhead in the numerator and 50,000 direct lobor-hours in the denominator The company purchased with cash) and used 47000 yards of raw materials at a cost of $11 30 per yard. Its direct laborers worked 20750 hours and were paid a total of $291,500 The company started and completed 9.600 units of finished goods during the period Bowen's standard cost card for its only product is as follows Inputs Direct materials Direct labor Fixed manufacturing overhead Total standard cost per unit (1) Standard Quantity or Hours 4.5 yards 3.9 hours 3.9 hours (2) Standard Price or Rate $17.50 per yard $14.00 per hour $20.ee per hour Standard Cost (1) (2) $78.75 54.60 78.88 $211.35 Required: 1 When recording the raw material purchases a The Raw Materials inventory will increase (decrease) by how much? b The Cash will increase (decrease) by how much? z When recording the raw materials used in production a The Row Materials inventory will increase (decrease) by how much? The Work in Process inventory will increase (decrease) by how much? 3. When recording the direct lobor 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? The material will In