Owen Cuiipany ictures ohe 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 labor-hours in denominator. The company purchased (with cash) and used 58,000 yards of raw materials at a cost of $11.80 per yard. lts direct laborers worked 21,000 hours and were paid a total of $292,000. The company started and completed 10,100 units of finished goo during the period. Bowen's standard cost card for its only product is as follows Standard Quantity or Standard Price Standard Direct materials Direct labor Fixed manufacturing overhead Total standard cost per unit 5.8 yards $20.00 per yard $1e.00 4.4 hours $14.00 per hour 4.4 hours $20.00 per hour88.889 61.60 249.60 Required: 1. When recording the raw material purchases: 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 by how much? 3a. The work in