4 Exerclse 9-15 Flexlble Budget Performance Report In a Cost Center [LO9-1, LO9-2, LO9-3, LO9-4] 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: 10 points Cost Formulas $15.88q $8,288 $1.68q $6,488$8.88q $1,180 $8.48q $23,eae$3.78q $8,480 $2,188 $11,788 +$1.98q Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Print References The Production Department planned to work 8,000 labor-hours in March; however, it actually worked 8,400 labor-hours during the month. Its actual costs incurred in March are listed below Actual Cost Incurred in March $134,73 $ 19,866 s 14,576 4,988 $ 54,e86 $ 8,796 $ 2,186 26,470 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Requlrec 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 Department's flexible budget performance report for March, including both the spending and activity variances Complete this question by entering your answers in the tabs below. Required 1Required 2 Required 3 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 Complete this question by entering your answers in the tabs below. Required 1Required 2Required 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 1Required 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 ao positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Results Bu Labor-hours 8.400 Direct labor S 134,730 Indirect labor 19.860 Utilities 14,570 4.980 Supplies 54,080 Factory rent 8,700 2.100 Property taxes Factory administration 26,470 S 265,490 Total expense