PREPARE and cook Mastering the Meatball recipe. Cover 24 of the meatballs to keep warm. Cover and refrigerate or freeze remaining 24 meatballs for another use.

MELT butter in large skillet on medium heat. Add onions and mushrooms; cook and stir 5 min. or until onions are crisp-tender. Stir in flour until well blended.

ADD broth, water, ketchup, rice and cream cheese; mix well. Add meatballs; mix lightly. Bring to boil. Reduce heat to medium-low; cook 5 min. or until cream cheese is completely melted and meatballs are heated through, stirring frequently.