Chem wide shows wis 7 Part of 30 points Required Information The following information applies to the questions of played below) The November production of MVP's Minnesota Division consisted of batch P25 (4.000 professional basketball and batch 53307,000 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 P26. $144,000, including $11,000 for packaging material; batch 533, $13350 Conversion Conts: Preparation Department, predetermined rate of $6.70 per unit Finishing Department, predetermined rate of $5.00 per unit: Packaging Department, predetermined rate of $0.80 per unit. Only the professional balls are packaged 3. Prepare journal entries to record the cost flows during November ( no entry is required for a transactiontevent, select "No journal entry required in the first account field) Answer is not complete. No Transaction General Journal Debit Credit 1 1 Work-in-process inventory Preparation Department 133.000 Raw.material inventory 133,000 2. 2. Work-in-process inventoryPreparation Department 113.750 Raw material inventory 113,750 3 3 Work-in-process inventory. Preparation Department 73.700 Applied conversion costs 73,700 4 4 Work process inventory: Finishing Department 312.750X Work in process inventory. Preparation Departme 312.750 5 5 Work-n-process inventory. Finishing Department 55,000 Applied conversion costs 55,000 SS 16 6 99,550 Work in process inventory Packaging Department Finished-goods inventory Work in process inventary Finishing Department Work in process inventory Packaging Department Raw material inventory Applied conversion costs 7 7 14,200 11 000 3.2007 S 8 Finished goods inventory