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Need help with this! Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department .

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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 is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formulas $15.809 $8,200 + $1.609 $6,400 + $0.804 $1,100 + $0.409 $23,000 + $3.709 $8,400 $2,100 $11,700 + $1.900 The Production Department planned to work 8,000 labor-hours in March; however, it actually worked 8,400 labor-hours during the month. Its actual costs incurred in March are listed below: Direet labor Indirect labor Utilities Sapplies Equipoant depreciation Factory rent Property taxes Factory administration Actual Cost Ineurred in March $134,730 $ 19,860 $ 14,570 $ 4,980 $ 54,080 $8,700 $ 2.100 $ 26,470 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 flexible budget performance report for March, including both the spending and activity variances

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