1 10 Packaging Solutions Corporston manufactures and selss wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulss, where is the number of labor hours worked in a month Cost Formulas Direct labor $16.54 direct labor 54,300 $1.44 utilities 55,500 + $0. Supplies $1,600.30. Elisant depreciation $18,300 $2.000 Factory 58. Property taxes 52,800 Factory dinistration $13,000.00 Print The Production Department planned to work 4,400 labor-hours in March, however, it actuslly worked 4 200 Isbor hours during the month. Its sctual costs incurred in Marchsrelated be ow: Actual Cost Incurred in purch Direct Labor $ 20,920 Indirect to 59,548 utilities Supplies $3,130 Equipo deprecation $ 39,90 Factory rent 58,400 Property taxes 5 2.8 Factory dinistration 5 15,420 R. Required: 1. Prepare the Production Department's planning budget for the month 2. Prepare the production Department's flexible budget for the month. 3. Prepare the Production Departments flexible budget performance report for March, including both the spending and activity variances Complete this question by entering your answers in the tabs below. Tuned 1 Prepare the Production Department's planning budget for the month. Packaging Bolution Corporation Production Department Planning Budget For the Month Ended Maron 31 Director indirectibor Un Supoles Equipment depreciation Factory ront Property Factory administration Total con Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget for the month. Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget performance report for March, including both the spending and activity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None for no effect (i.e, zero variance). Input all amounts as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget Labor-hours 4,200 S 70,920 Direct labor Indirect labor 9,640 8,090 Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration 3,130 30,480 8,400 2,800 15,410 148,870 Total expense S