HW Chpt 9 i Saved Help Save & Exit Submit Check my work 5 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 q is the number of labor-hours worked in a month: Cost Formulas 7 Direct labor $16. 30q points Indirect labor $4, 300 + $1.30q Utilities $5, 100 + $0.50q Supplies $1, 400 + $0 . 40q eBook Equipment depreciation $18, 700 + $3.00q Factory rent $8, 300 Print Property taxes $2, 500 Factory administration $13, 600 + $0.60q References The Production Department planned to work 4,100 labor-hours in March; however, it actually worked 3,900 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor $ 65, 150 Indirect labor $ 8, 810 Utilities $ 7, 540 Supplies $ 3, 250 Equipment depreciation $ 30, 406 Factory rent $ 8, 700 Property taxes $ 2, 500 Factory administration $ 15, 290 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 items. Mc Mc HW Chpt 9 i Saved Help 5 Complete this question by entering your answers in the tabs below. Required 1 points Required 2 Required 3 Prepare the Production Department's flexible budget for the month. eBook Packaging Solutions Corporation Print Production Department Flexible Budget References For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ Mc HW Chpt 9 1 Saved Hel 5 Complete this question by entering your answers in the tabs below. 7 points 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" eBook for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Print Packaging Solutions Corporation References Spending Variances For the Month Ended March 31 Actual Spending Variances Flexible Results Budget Labor-hours 3,900 Direct labor 65, 150 Indirect labor 8,810 Utilities 7,540 Supplies 3,250 Equipment depreciation 30,400 Factory rent 8,700 Property taxes 2,500 Factory administration 15,290 Total expense $ 141,640 Mc Graw