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 g is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formula $16.30 $4,100 + $2.000 $5,400 + $0.809 $1,500 + $0.409 $18,200 + $2.709 $8,600 $2,500 $13, 400 + $0.900 The Production Department planned to work 4,400 labor-hours in March; however, it actually worked 4,200 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Ineurred in March Direct labor $70,040 Indirect labor $ 12,080 Utilities $ 9,310 Supplies $ 3,470 Equipment depreciation $ 29.540 Factory rent 59,000 Property taxes $ 2,500 Pactory administration $ 16,590 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 report for March, including both the spending and activity variances 3. Prepare the Production Department's flexible budget performance report for March 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 For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 0 (Required 1 Required 2 > MacBook Pro SC R G Search or type URL R @ 2 3 $ 4 5 6 & 7 8