1 Packaging Solutions Corporation manufactures and sells a 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 formulas, where q is the number of labor-hours worked in a month: Cost Fo 16.20g points Direct labor $4,800 $1.80q $5,700 $0.70g $1,400$0.30g $18,500 $3.10g Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration eBook $8,500 $2,800 $13,600 $0.70q Print The Production Department planned to work 4,100 labor-hours in March; however, it actually worked 3,900 labor-hours during the month. Its actual costs incurred in March are listed below: References Actual Cost Incurred in March Direct labor Tndirect 1abor $ 11,360 Utilities $8,960 Supplies Equipment depreciation Factory rent Property taxes Factory administration 2,840 $ 30,590 $8,900 2,800 $15,700 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 Prod uction Department's flexible budget performance report for March, including both the spending and activity variances. Required 1 Required 3 Required 2 Prepare the Production Department's planning budget for the month Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 0 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 C O