Jim Graham Integrated Services uses a standard cost system, and calculates and records variances related to direct materlals and direct labor. The following information was avallable for March: All of the purchased raw material was transferred to work in process. The materials quantity variance was unfavorable by $10,000. The labor efficiency variance was favorable by $7,500. (a) Prepare the journal entry that is needed to record the purchase of raw materials at standard price. and the related variance. The labor efficiency varlance was favorable by $7,500 (a) Prepare the journal entry that is needed to record the purchase of raw materials at standard price, and the related variance. (b) Prepare the journal entry that is needed to record the transfer of raw materials to production at standard usage rates, and the related unfavorable quantity variance. (c) Prepare the journal entry that is needed to record the increase in work in process for the standard direct labor costs, and record the related rate and efficiency variances. For question (a), how much is Raw Materials Inventory debited? 105000 120000 150000 95000 For question (b), how much is Work in Process debited? 95000 100000 110000 200000 For question (c), how much is wages payable credited? 135000 155000 175000 180000