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 formules, where is the number of Isbor hours worked in a month: Direct labor Indirect labor utilities Supplies Equipment depreciation Factory rent Property taxes Factory asinistration Cost Formulas $16.30 $4,200 + $1.44 $5,469 + $0.7 $1,600 + 58.200 $18,000 + $2.500 $2.ee $13,400 + $0. The Production Department planned to work 4,000 labor-hours in March, however, it actually worked 3,900 Isbor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor Indirect labor $ 8,99 utilities $ 8.500 Supplies Equipment depreciation $ 28, Factory rent Property taxes $ 2,900 Factory dinistration $ 15,3 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 sctivity Variances