Check my work 2 Exercise 9-16 Flexible Budgets in a Cost Center (L09-1, L09-2] 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 20 points Bint Direct latior Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formulas 516.30 14,100 $1.300 15,700 - 10.000 $1,300 + 50.100 $18, 100+ $3.109 38.100 32.400 513.100 + $0.500 References The Production Department planned to work 4,000 labor-hours in March; however, it actually worked 3,800 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 $63, 520 $ 8,480 $ 8,490 $ 1,910 $ 29,880 $ 8.500 $ 2.400 $14.330 C 2 Required 1 Required 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 Cook int ences Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 2 Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget for the month. 20 points Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 eBook Print References Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Required 1 Required 2 Required 3 Calculate the spending variances for all expense items. (Indicate the effect of each variance by selecting 'F' for favorable, 'U' for unfavorable, and "None' for no effect (ie, zero variance), Input all amounts as positive values.) Packaging Solutions Corporation Spending Variances For the Month Ended March 31 Actual Results Spending Variances Flexible Budget Labor hours 3,800 Direct labor $ 63,520 Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration 8,480 8,490 1.910 29,880 8,500 2,400 14,330 137,510 Total expense $