Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formulas $16.509 $4,500 + $1.909 $5,500 + $0.609 $1,400 + $0.209 $18,200 + $2.809 $8,400 $2,700 $13,700 + $0.904 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: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 69,270 $ 11,850 $ 8,470 $ 2,470 $ 29,680 $ 8,800 $ 2,700 $ 16,800 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 Actual labor-hours $ Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 74,250 % 8,550 8,200 2,300 30,800 8,400 2,700 17,750 $ 152,950 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 Budgeted labor-hours 4,100 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 67,650 11,470 X 8,170 2,730 30,900 8,400 2,800 15,650 $ 147,770 ri SPAIS LIIS PIVUULLIVIT UCPar LINICHIL HISAIVIC vuuyau PELTOEHTOTILE I SPUIL TUI PIATTI, Iuumy VULI LIC OPCrumy anu ALLIVILY VANGILES (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 Results Budget 4,100 4,100 Planning Budget 4,300 Labor-hours > F Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 69,270 11,850 8,470 2,470 29,680 8,800 2,700 16,800 $ 1.620 U 480 F 530 U 270 U 0 None 400 0 None 670 F $ 67,650 $ 3,300 F 11,470 X 340 F 8,170 140 XF 2,730 % 60 F 30,900 600 F 8,400 0 None 2,800 0 None 15,650 F 147,770 $ 4,540 F >>>>> > $ 70,950 11,810 8,310 2,790 31,500 8,400 2,800 $ 15,750 $ 152,310 U 100 $ 150,040 S $ 1,670 X U