Answer and Explanation:
The Journal entry is shown below:-
a. Raw material Dr, $80,000
To Account payable $80,000
(Being purchase of raw material is recorded)
Here we debited the raw material as it increased the assets and we credited the accounts payable as it also increased the liabilities
b. Work in process Dr, $62,000
Manufacturing overhead Dr $9000
To Raw material $71,000
(Being raw material used is recorded)
Here we debited the work in progress , the manufacturing overhead as it increased the assets and expenses and credited the raw material as it decreased the assets
c. Work in process Dr, $101,000
Manufacturing overhead Dr, $11,000
To Cash $112,000
(Being paid to labor is recorded)
Here we debited the work in progress , the manufacturing overhead as it increased the assets and expenses and credited the cash as it decreased the assets
d. Manufacturing overhead Dr, $175,000
To Accumulated depreciation-Equipment $175,000
(Being manufacturing overhead is recorded)
Here we debited the manufacturing overhead as it increased the expenses and we credited the accumulated depreciation of depreciation as it reduced the assets
