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J u mpy Program U U University 1 LESOT w in mongens one mework 0 Saved Se Exercise 9-16 Flexible Budgets in a Cost Center (LO9-1, LO9-2] 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 is the number of labor hours worked in a month Direct labor Indirect labor utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formulas $16.409 $4,200 + $1.809 $5,500 + $0.709 $1,700 - 50.400 $18,400 - $2.609 58,500 $2,400 $13,400 + $0.509 The Production Department planned to work 4.400 labor hours in March however, it actually worked 4.200 labor hours during the month. Its actual costs incurred in March are listed below: The Production Department planned to work 4,400 labor-hours in March; however, it actually worked 4.200 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 70,480 $ 11,300 $ 8.970 $ 3,670 $ 29,320 $ 8,900 $ 2.400 $ 14,830 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. Operation Man AS.doc Assignment 4. M.docx VIDEO.mov VIDEO MOV 4 wyusu IWYM 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 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 Packaging Solutions Corporation Spending Variances For the Month Ended March 31 Actual Results Spending Variances 4,200 Flexible Budget Labor-hours e MM Direct labor Indirect labor Utilities S Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 70,480 11 300 8.970 3,670 29 320 8.900 2.400 14.830 149.870 $ Feguized 2