Exercise 9-14 (Algo) Flexible Budget Performance Report in a Cost Center [LO9-1, L09-2, Lo9-3,LO94] Packaging Solutions Corporation manulactures and sels a wide vaviety of packaging products. Porformance teports are prepared momity for eoch department. The planning budget and Bexible budget for the Production Department are based on the following formulas, where q is the number of luboe hours worked in a month. The Production Deportment planned to work 4900 laboe-hours in March, however, it actually worked 3,900 labor hours during the month its actual costs incurred in March ave lsted below Required: 1. Prepare the Production Department's planning budget for the month 2. Prepare the Production Department's flexible budget for the month. 3. Prepare the Production Department's flexble budget performance report for March, including both the spending and activily variances. Complete this question by entering your answers in the tabs below. Prepare the Production Department's planning budget for the month. Complete this question by entering your answers in the tabs below. Prepare the Production Department's flexible budget for the month. Complete this question by entering your answers in the tabs below. 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.)