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 q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Cost Formulas $16.300 $4,800 +$1.800 $5,200+ $0.30q Supplies $1,200 + $0.20q Equipment depreciation Factory rent $18,600 +$2.800 $8,100 $2,700 Property taxes Factory administration $13,500 $0.800 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. Indirect labor Direct labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: Actual Cost Incurred in March $ 65,150 $ 11,360 $ 6,820 $ 2,230 $ 29,520 $ 8,500 $ 2,700 $ 16,010 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. ces 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 Packaging Solutions Corporation Spending Variances For the Month Ended March 31 Actual Flexible Results Spending Variances Budget Labor-hours 3,900 Direct labor $ 65,150 + Indirect labor 11,360 Utilities 6,820 Supplies 2,230 Equipment depreciation 29,520 Factory rent 8,500 Property taxes 2,700 Factory administration 16,010 Total expense $ 142,290