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need help with this three step problem Exercise 9-16 (Algo) Flexible Budgets in a Cost Center (LO9-1, LO9-2] Packaging Solutions Corporation manufactures and sells a
need help with this three step problem
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 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 $16.200 Indirect labor $4,000 - $1.700 Utilities 55.500 + $0.99 Supplies $1,300 - 50.200 Equipment depreciation $13,700 + $2.609 Factory rent $5,100 Property taxes $3,000 Factory asinistration $13,400.50.600 The Production Department planned to work 4,300 labor hours in March; however, it actually worked 4100 tabor-hours during the month its actual costs incurred in March are listed below. Actual Cost Incurred in March Direct labor $67,90 Indirect labor $ 10,400 Utilities $9.760 Supplies $ 2,370 Equipoent depreciation $ 29,300 Factory rent $ 6,500 Property taxes $ 3.000 Factory adelnistration $ 15,210 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 3 Prepare the production Department's planning budget for the month Packaging Solutions Corporation WEL Property taxes $ 3,000 Factory administration $ 15,210 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 3 Prepare the production Department's planning budget for the month. Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Property taxes Factory administration . $ 3,000 $ 15,210 Required: 1. Prepare the Production Department's planning budget for the mon 2. Prepare the Production Department's flexible budget for the monti 3. Calculate the spending variances for all expense items Complete this question by entering your answers in the tabs b- Required Required 2 Required 3 Prepare the production Department's exible budget for the month Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Step by Step Solution
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