The July production of Bait Buckets for Flying Angler's Supply Division consisted of batch $x337(2,100$ deluxe$)$ and batch $Z444(4,200$ basic$).$ Each batch was started and finished during July, and there was no beginning or ending work in process. Costs incurred were as follows:

Direct Material:

Batch $337,$$$42,500,$ including $$2,600$ for packaging material; batch $Z444,$$$45,500.$

Conversion Costs:

Preparation Department, predetermined rate of $$8\mathrm{.}00$ per unit; Finishing Department, predetermined rate of $$6\mathrm{.}10$ per unit; Packaging Department, predetermined rate of $$1\mathrm{.}00$ per unit. $($Only the deluxe buckets are packaged.$)$

Required:

Compute the July product cost for each type of bait bucket.

Prepare journal entries to record the cost flows during July.

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Required $2$

Compute the July product cost for each type of bait bucket.

Note: Round "Product Cost" to $2$ decimal places.

$\backslash$table$[[,\backslash$table$[[$Product$],[$Cost$]],],[$Deluxe$,$$$,28\mathrm{.}24x,$per bucket$],[$Basic$,$$$,16\mathrm{.}93x,$per bucket$]]$