Exercise 9-16 (Algo) Flexible Budgets in a Cost Center [LO9-1, LO9-2] Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and Rexble budget for the Production Department are based on the following formulas. Where q is the number of labor-hours worked in a month: The Production Department planned to work 4,300 labot-hours in March however, it actually wotked 4.100 labor-hours during the month. its actual costs incurred in March are listed 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. Calculate the spending variances for all expense tems 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. 3 Calculate the spending variances for all expense items. Complete this question by entering your answers in the tabs below. 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 (i.e. zero variance). Input all amounts as positive values.)