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 a is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipmont depreciation Factory rent Property taxes Tactory administration Coat Formulas $16.404 $4,500 + $1.500 $5,600 - 50.600 $1,000 $0.309 $18,200 + $3.109 $8.200 $2,600 $13,700 + $0.600 The Production Department planned to work 4,100 labor hours in March; however, it actually worked 3,900 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Indirect Labor Unities Sapplies Equipment depreciation Factory cent Property taxe factory administration retual Cost Incurred in March $ 65,560 $9,030 58,450 $3,240 $ 30,290 $ 8,600 $ 2,600 5 15,390 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 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget for the month. Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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 (es, pero variance). Input all amounts as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget Labor-hours 3,900 $ Direct labor Indirect labor Utos Supple Equipment depreciation Factory rent Property taxes Factory administration Total expense 65.550 9.830 8,450 3.240 30.290 8,800 2,600 15,390 $ 143,950 Prev 1 of 1 !!! Next