TB MC Qu. 10B-77 (Static) Robins Corporation manufactures... Robins Corporation manufectures one product it does not maintain any beginning or ending Work in Process inwentories. The company uses a standord cost system in which imventories are recorded at their standard costs and any variances are closed diectly to Cost of Goods Sold. There is no vatioble manufacturing overtheod. The standard cos: card for the company's only product is as follows: The standard fwed manufacturing ovechead rate was based on budgeted foxed manufscturing overheod or $360.000 and budgoted activity of 20,000 hours. During the yeot, the company completed the following transactions: a. Purchased 134.700 pounds of raw material tot a price of $9.10 per pound. 6. Used 122,080 pounds of the raw material to produce 32,100 units of work in process. c. Assigned direct isbor costs to work in process. The direct labor worke!s (Who were paid in casty worked 26,680 hours at an average cost or $1720 per houc. d. Applied foued overhead to the 32 .100 units in work in process inventory using the predetermined overteod rate nultiplied by the number of direct iabochours ailowed. Actual fixed overhead costs foe the year wore $378,400. Or this totat, $297,400 related to tems such as insurance, utalies, and indirect labor salaries that were all paid in cash and $81,000 related to depreciation of manufacturing equipment e. Completed and trenstered 32:100 units from work in process to finished goods Assume that af transactions are recoeded on the below worksheet, which is simasr to the worksheet shown in your text except that it has been divided inco two parts so that it Ingleted and transferted 32,100 units from work in process to finished goods ne that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it rone psge. The beglring balances in eoch of the accounts have been glven. PpgE ined stands for Property. Plant, and Equipment net of depreciation. recording the raw materials used in production in transaction (b) abowe, the Work in Process inventory account will increase (decreasel by: Mutple Chace (\$use.8to When recording the raw materials used in production in transaction (b) above, the Work in Process inventory account will increase (decrease) Muniple Choice ($1,358,810) $1,158,810 (\$1,159,760) $1,159,760