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 Cost Formulas $16.300 $4,500 +$1.600 Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $5,200 $0.90q $1,200 +$0.10q $18,700+ $2.80q $8,300 $2,800 $13,200 +$0.900 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 Utilities Supplies Equipment depreciation Actual Cost Incurred in March $ 65,150 $ 10,240 $ 9,280 $ 1,820 $ 29,620 Check Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: $ 10,240 $ 9,280 $ 1,820 $ 29,620 $ 8,700. $ 2,800 $ 16,120 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