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 Cost Formulasi $16.500 $4,800 +$1.900 Utilities $5,300 +$0.88q Supplies $1,200 +$0.200 Equipment depreciation $18,700 +$2.800 Factory rent $8,400 $2,900 Property taxes Factory administration $13,300 +$0.700 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. Actual Cost Incurred in March. $ 65,970 Direct labor Indirect labor Utilities Supplies $ 11,770 $ 8,970 Equipment depreciation Factory rent Property taxes Factory administration Required: $ 2,230 $29,620 $8,800 $ 2,900 $ 15,400 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 flexible budget performance report for March, including both the spending and activity variances. (Indicate the effect of each variance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Results Spending Variances Labor-hours 3,900 Direct labor $ 65,970 .. Indirect labor 11,770 F Utilities 8,970 Supplies: 2,230 Equipment depreciation 29,620 None Factory rent 8,800 U Property taxes 2,900 None Flexible Budget Activity Variances Planning Budget 4,100 None None Prev 1 of 4 Next > ince by selecting "F" for favorable, "U" for unfavorable, and "None" for no effe March, including both the spending and acti Input all amounts as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Results Spending Variances Labor-hours 3,900 Flexible Budget Activity Variances Planning Budget 4,100 Direct labor $ 65,970 Indirect labor 11,770 F Utilities 8,970 U Supplies 2,230 TU Equipment depreciation 29,620 None Factory rent 8,800 U None Property taxes 2,900 None None Factory administration 15,400 F F Total expense $ 145,660 U F