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 $16.50q Indirect labor Utilities $4,400 +$1.909 $5,500 + $0.50q Supplies $1,600 + $0.20q Equipment depreciation $18,300 + $2.909 Factory rent $8,500 $2,900 Property taxes Factory administration $13,700 + $0.609 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: Direct labor Indirect labor Utilities Actual Cost Incurred in March $ 67,620 $ 11,560 $ 7,990 Factory rent Supplies $ 2,650 Equipment depreciation $ 29,900 $ 8,900 $ 2,900 $ 15,450 Property taxes Factory administration Required: 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. 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