Hartwell 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 $2,150,400 of fixed manufacturing overhead in the numerator and 44,800 direct labor-hours in the denominator. The actual fixed manufacturing overhead for the period was $2,163,600 The company purchased (with cash) and used 60,800 yards of raw materiels at a cost of $11.00 per yard. Its direct laborers worked 40,400 hours and were paid a total of $606,000. The company started and completed 28,800 units of finished goods during the period. Bowen's standard cost card for its only product is as follows: (1) Standard Quantity or Hours 2 yards 1.5 hours (2) Standard Price or Rate Standard Cost (1) (2) $ 24.00 22.50 $ 12.00 per yard $ 15.00 per hour 1.5 hours $ 48.00 per hour $118.50 72.00 Direct materials Direct labor Fixed manufacturing overhead Total standard cost per unit 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? c. The materials price variance will be favorable or unfavorable and 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? c. The materials quantity variance will be favorable or unfavorable and 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? c. The labor rate and efficiency variances will be favorable or unfavorable and by how much? 4. When applying fixed manufacturing overhead to production: a. The Work in Process inventory will increase (decrease) by how much? b. The fixed overhead budget and volume variances will be favorable or unfavorable and by how much? 5. When transferring costs from Work in Process to Finished Goods, the Finished Goods inventory will increase (decrease) by how much? (Indicate the effect of each variance by selecting "Favorable", "Unfavorable" or "None". Enter all amounts as positive values.) 1a The Raw Materials will 1b. The Cash will by by 1e. The materials price variance is by 2a. The Raw Materials wil by 2b The Work in Process will by 2c. The materials quantty variance is by 3a. The Work in Process will by 3b. The Cash wi by 3c The labor rate variance is by 3c. The labor efficiency variance is by 4a. The Work in Process will by 4b. The faxed overhead budget variance is by 4b The fixed overhead volume variance is by 5. The Finished Goods will by