3 Required information Exercise 4-24 Operation Costing (LO 4-7) [The following information applies to the questions displayed below.) The November production of MVP's Minnesota Division consisted of batch P25 (3,800 professional basketballs) and batch 533 (7,000 scholastic basketballs). Each batch was started and finished during November, and there was no beginning or ending work in process. Costs incurred were as follows: Direct Material: Batch P25, $133,000, including $10,500 for packaging material; batch S33, $112,000. Conversion Costs: Preparation Department, predetermined rate of $5.10 per unit; Finishing Department, predetermined rate of $4.00 per unit: Packaging Department, predetermined rate of $0.70 per unit. (Only the professional balls are packaged.) Book Print Exercise 4-24 Compute the November product cost 2. Compute the November product cost for each type of basketball. (Round your intermediate and final answers to 2 decimal places.) Professional Scholastic Product Cost per unit per unit Required information 3. Prepare journal entries to record the cost flows during November. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 6 7 LO 8 Record the transfer of the partially completed professional and scholastic basketballs to the Finishing Department. Note: Enter debits before credits. Transaction General Journal Debit Credit 4 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the entry to apply conversion costs - Finishing Department Note: Enter debits before credits Transaction General Journal Debit Credit 5 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 7 8 CO Record transfer of partially completed balls to Packaging Department and fully completed balls to finished goods inventory. Note: Enter debits before credits. General Journal Debit Credit Transaction 6 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record requisition of raw material and apply conversion costs in Packaging Department. Note: Enter debits before credits. General Journal Debit Credit Transaction 7 Record entry Clear entry View general journal Journal entry worksheet