Required information [The following information applies to the questions displayed below.] The November production of MVP's Minnesota Division consisted of batch P25 (3,400 professional basketballs) and batch S33 (6,000 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, $102,000, including $8,000 for packaging material; batch S33, $88,500. Conversion Costs: Preparation Department, predetermined rate of $6.50 per unit; Finishing Department, predetermined rate of $5.00 per unit; Packaging Department, predetermined rate of $0.70 per unit. (Only the professional balls are packaged.) 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 View journal entry worksheet General Journal No Transaction Debit Credit Work-in-process inventory: Preparation Department 1 1 94,000 Raw-material inventory 94,000 Required information No General Journal Debit Credit Transaction 1 1 Work-in-process inventory: Preparation Department 94,000 Raw-material inventory 94,000 2 2 Work-in-process inventory: Preparation Department 88,500 Raw-material inventory 88,500 3 Work-in-process inventory: Preparation Department Applied conversion costs 4 4 Work-in-process inventory: Finishing Department Work-in-process inventory: Preparation Department Work-in-process inventory: Finishing Department Applied conversion costs 6 Work-in-process inventory: Packaging Department Finished-goods inventory Work-in-process inventory: Finishing Department Work-in-process inventorv: Packaaina Department 7 7