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need help with this probelm. i will thumbs up all help! Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports
need help with this probelm. i will thumbs up all help!
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 Cost Formulas Direct labor $16.500 Indirect labor $4,300 + $1.489 Utilities 55,700 - 50.989 Supplies $1,500 + $0.200 Equipent depreciation $18,300 - $2.50 Factory rent $8,5ee Property taxes $2,700 Factory administration $13,100 $0.604 The Production Department planned to work 4.400 labor-hours in March; however, it actually worked 4 200 labor-hours during the month. Its actual costs incurred in March are listed below. Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 70,920 $ 9,640 $ 10,050 $ 2,590 $ 28,800 $ 8,900 $ 2,700 $ 14,97 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare the Production Department's flexible budget for the month 4200 Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 Actual labor hours Direct labor Indirect labor Uuties Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 5 70.920 Required 1 Required 3 > Prepare the Production Department's planning budget for Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 Budgeted labor-hours Direct labor 4,400 Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 0 Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget for ti Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 Actual labor-hours 4,200 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 0 Step by Step Solution
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