Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports and 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 $16.500 $4,200 + $2.000 $5,800 + $0.400 $1,400 - $0.20g $18,100 - $2.609 $8.300 $2.900 $13.300 + 50.709 The Production Department planned to work 4.300 labor hours in March, however, it actually worked 4.100 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 $69,270 $11.980 $ 7.910 $ 2.470 $28,760 $8,700 $ 2.900 $15,540 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 Required Required Prepare the Production Department's planning budget for the month. Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March Required 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 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formulas $16.500 $4,200 + $2.000 $5,800 + $0.400 $1,400 + $0.200 $18, 100+ $2.609 S300 $2,900 $13,300 + $0.709 The Production Department planned to work 4300 labor hours in March; however, it actually worked 4,100 labor hours during the month. Its actual costs incurred in March are listed below: Actua Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration cost Incurred in March $69.270 $11.980 $7.910 $ 2, 470 $28,760 $ 8.700 $ 2.900 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 Required Required Prepare the Production Department's flexible budget for the month. Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March Direct labor Indirect labor Supplies Equipment depreciation Factory rent administration Total expense (Required 1 Required 3 > 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 Departmentare based on the following formulas where is the number of labor hours worked in a month Direct Labor Indirect labor Cost Formulas $16.500 $4,200 - $2.000 $5,000 + $0.409 $1,400 Utilities 30.200 Supplies Equipment depreciation Taetony rent Property taxes Factory administration $18.100 + $2.600 $8,300 $2.900 $13,300 $0.709 The Production Department planned to work 4300 labor hours in March, however, it actually worked 4.100 labor hours during the month its actual costs incurred in March are listed below Direct labor Indirect labor Utilities Supplies Equipment depreciation Tactory rent Property taxes Factory administration Metal Cost Incurre in March $69.270 511,960 $ 7.910 $ 2,470 $28, 760 $ 8.700 $ 2,900 $15.540 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 Required Required Prepare the Production Department's flexible budget performance report for March, indluding 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 (ie, zero variance). Input all amounts as positive values.) Show less Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget 4100 Dect labor $6222701 11,980 LLLLLLLL 7,910 2.4701 Property taxes Total expense