1. Line cookie sheet with foil. Melt butter in heavy saucepan over low heat. Combine cereal, peanut butter, dry milk and powdered sugar in large bowl. Mix in butter. Moisten hand and roll into small balls (about the diameter of a nickel). Place on prepared cookie sheet. Repeat with remaining mixture. Chill uncovered overnight.

2. Line cookie sheet with wax paper. Melt chocolate in microwave, a small amount at a time. Using toothpicks to pick up balls, dip balls and roll in chocolate. Place on prepared cookie sheet. Refrigerate until chocolate is firm.

(I use two big bags of chocolate bits, any variety and flavor. To store put in airtight container in refrigerator.) Can be prepared 1 week in advance.