Acompany manufactures and sells a wide variety of 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 $16.289 $4,700 + $1.500 $5,380 + $0.589 $1,400 + $0.489 $18,300 + $3.189 $8,680 $2,800 $13,400 + $0.889 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: Actual Cost Incurred in March Direct labor $ 64,740 Indirect labor $ 10,030 Utilities $ 7,740 Supplies $ 3,250 Equipment depreciation $ 30,390 Factory rent $ 9,90 Property taxes $ 2,800 Factory administration $ 15,919 Required: 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 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.) The Company Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget Labor-hours 3.900 Direct labor $ 84,740 Indirect labor 10.030 7.740 3,250 30.390 Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration 9,000 2,800 15,910 Total expense $ 143.800