10 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: 1 points Direct labor Indirect labor Cost Formulas $16.309 $4,400 + $1.90q Utilities $5,400 + $0.709 Supplies $1,700 + $0.209 Equipment depreciation $18,400 + $3.009 eBook Factory rent $8,300 $2,800 Ask Print Property taxes Factory administration $13,100 + $0.809 The Production Department planned to work 4,300 labor-hours in March; however, it actually worked 4,100 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March $ 68,410 Direct labor References Indirect labor $ 11,750 Utilities $ 8,800 Supplies $ 2,770 Equipment depreciation $ 30,700 Factory rent $ 8,700 Property taxes $ 2,800 $ 15,770 Factory administration Required: 1. Prepare the Production Department's planning budget for the month. 2. Prepare the Production Department's flexible budget for the month. 3. Calculate the spending variances for all expense items. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the Production Department's planning budget for the month. Packaging Solutions Corporation