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 qis the number of laborahours worked in a month: Cost Formulas Direct labor $15.53q Indirect labor- $4,799 + $1.7Bq Utilities $5,499 + $9.73q Supplies $1,799 + $9.23q Equipment depreciation $18,366 + 32.23% ractory rent 38, 533 Property taxes $2,993 Factory administration $13,299 + 39.6% The Production Department planned to work 4.100 laborahours in March, however, it. actually worked 3,900 laborahours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred :in March Direct labor to 65,973 Indirect labor- $ 19,853 Utilities 16 8,666 Supplies 3 2,733 Equipment depreciation 9 29,223 ractory rent 3 8,933 Property taxes 36 2,933 ractory administration 3 15,893 Required: 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 reportfor 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. Direct labor indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 0 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. Direct labor indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 0 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 "F" for favorable, \"U" for unfavorable, and \"None" for no effect (i.e., zero variance). Input all amounts as positive values.) Laborenours 3_900 Direct labor $ 65970 Indirect labor 10.850 Utilities 8:660 Supplies 2730 Equipment depreciation 29220 Factory rent 8:900 Property taxes 2900 Factory administration 143390 Total expense :5 144_t 20