Packaging Solutions Corporation mantactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexble budget for the Production Department are based on the following. formulas, where q is the number of labor-hours worked in a monthr The Production Department planned to work 4,500 labor hours in Morch; however it actually worked 4,300 labor hours during the month, Its actual costs incutted in March are listed below: Complete this question by entering your answers in the tabs below. Prepare the Production Department's planning budget for the month. Complete this question by entering your answers in the tabs below. Prepare the Production Department's flexible budget for the month. Prepare the Production Department's flexible budget performance report for March, including both the spending and activity. variances. (Indicate the effect of each variance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e. zero vatiance), Input all amounts as positive values.) 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 an variances. Complete this question by entering your answers in the tabs below