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looking for the solution to this problem Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for

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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 Direct labor $16.60q Indirect labor $4,200 + $1.90q Utilities $5,400 + $0.30q Supplies $1,300 + $0.40q Equipment depreciation $18,100 + $2.80q Factory rent $8,400 Property taxes $2,800 Factory administration $13,800 + $0.80q The Production Department planned to work 4,100 laborhours 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 $66,380 Indirect labor $11,170 Utilities $ 7,020 Supplies 5 3,150 Equipment depreciation $29,020 Factory rent 5 8,800 Property taxes $ 2,800 Factory administration $16,310 I 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

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