Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget 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 $16.309 $4,200 + $1.809 $5,800 + $0.909 Supplies $1,800 + $0.109 Equipment depreciation $18,600 + $2.609 Factory rent Property taxes Factory administration $8,100 $2,800 $13,300 + $0.70q The Production Department planned to work 4,200 labor-hours in March; however, it actually worked 4,000 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March $ 66,780 $ 10,940 $ 9,970 $ 2,430 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: $ 29,000 $ 8,500 $ 2,800 $ 15,470 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.