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 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 69Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 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 expenseRequired 1 Required 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 as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget Labor-hours 4,100 Direct labor 68,840 Indirect labor 11,750 Utilities 7,310 Supplies 3,200 Equipment depreciation 29,260 Factory rent 8,800 Property taxes 2,900 Factory administration 15,110 Total expense $ 147,170Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department The planning budget and exible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Coat Formulas Direct labor $16.4Dq Indirect labor $4,400 + $1.90.; Utilities $5,200 -i- $0.40q Supplies $1,700 + $0.30q Equipment depreciation $10,600 + $2.60q Factory rent $8,400 Property taxes $2,900 Factory administration $13,300 + $0.60q 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 [larch Direct labor 5 68,040 Indirect labor 5 11, 3'50 Utilities 5 7,310 Supplies 5 3, 200 Equipment depreciation 5 29 , 2 6 0 Factory rent 5 3 , E 0 0 Property taxes 5 2 , 9 0 0 Factory administration 5 15 , 1 l 0