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 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 Formulas $16.309 $4,700 + $2.104 $5,500 + $0.709 $1,300 + $0.209 $18,700 + $2.609 $8,200 $2,700 $13,300 + $0.709 The Production Department planned to work 4,500 labor-hours in March; however, it actually worked 4,300 labor hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor $ 71,670 Indirect labor $13,330 Utilities $ 9,040 Supplies $ 2,410 Equipment depreciation $ 29,880 Factory rent $ 8,600 Property taxes $ 2,700 Factory administration $ 15,680 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 Jariances