Answer:
1. Dr Raw Materials Inventory	$69,920	
Dr Materials Price Variance	$1,840 
Cr Accounts Payable $71,760
2. Dr Work in Process Inventory	$68,780	
Dr Materials Quantity Variance	$1,140 
Cr Raw Materials Inventory $69,920	
 
3. Dr Factory Labor	$73,600	
Cr Labor Price Variance $8,000	
Cr Factory Wages Payable $65,600
4. Dr Work in Process Inventory	$74,474	
Cr Labor Quantity Variance $874	
Cr Factory Labor $73,600	
 
5. Dr Work in Process Inventory	$143,254
Cr Manufacturing Overhead $143,254
Explanation:
Preparation of the anuary transactions
1. Dr Raw Materials Inventory	$69,920	
(18,400*$3.80)	
Dr Materials Price Variance	$1,840 [18,400 x ($3.90 - $3.80)]
Cr Accounts Payable $71,760
($69,920+$1,840)
2. Dr Work in Process Inventory	$68,780	
(18,100*$3.80)	
Dr Materials Quantity Variance	$1,140 [$3.80 x (18,400 - 18,100)]
Cr Raw Materials Inventory $69,920	
(18,400*$3.80) 
3. Dr Factory Labor	$73,600	
($16,000*$4.60)	
Cr Labor Price Variance $8,000	
[16,000 x ($4.10 - $4.60)]
Cr Factory Wages Payable $65,600
(16,000*$4.10)	
4. Dr Work in Process Inventory	$74,474	
(16,190*$4.60)
Cr Labor Quantity Variance $874	[$4.60 x (16,000 - 16,190)]
Cr Factory Labor $73,600	
($8,000+$65,600) 
5. Dr Work in Process Inventory	$143,254
($68,780+$74,474) 
Cr Manufacturing Overhead $143,254