Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and exible budget for the Production Department are based on the following formulas, where qis the number of laborhours worked in a month: Direct labor Indirect labor Cost Formulas $15.2eq $4,193 + 51.39;; Utilities $5,000 + $o.:r'sq Supplies $1,486 + $8.26q Equipment depreciation $18,400 + $2.66q Factory rent $3,160 Property taxes $3,080 Factory administration $13,286 + $8.?Bq 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 Direct labor 5 54,?49 Indirect labor 5 10,660 Utilities $ 3,259 Supplies $ 2,436 Equipment depreciation 5 28,549 Factory rent $ 8,566 Property taxes $ 3,669 Factory administration 5 15,360 Required: 1. Prepare the Production Department's planning budget for the month. 2. Prepare the Production Department's exible 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 planning budget for the month. March Direct labor $ 64,740 Indirect labor $ 10,660 Utilities $ 8,260 Supplies $ 2,430 Equipment depreciation $ 28,540 Factory rent $ 8,500 Property taxes $ 3,900 Factory administration $ 15,300 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. 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 $ 0March Direct labor $ 64,740 Indirect labor $ 10, 660 Utilities $ 8,260 Supplies $ 2,430 Equipment depreciation $ 28,540 Factory rent $ 8,500 Property taxes $ 3,000 Factory administration $ 15,300 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. 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. Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 0Property taxes 1; 3,606 Factor}.r administration $ 15,303 Required: 1. Prepare the Production Department's planning budget for the month. 2. Prepare the Production Department's exible budget for the month. 3. Prepare the Production Department's flexible budget performance report for Ma rch, 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 exible 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.) Laborhours Direct labor Indirect labor Utilities Supplies 2.430 Equipment depreciation 23,540 Factory rent 3,500 Property taxes 3,000 Factory administration 3: Total emense Property taxes Factory administration $ 15,300 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. 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.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget Labor-hours 3,900 Direct labor $ 64,740 Indirect labor 10,660 Activity Variances Utilities 8,260 Spending Variances Supplies 2.430 Equipment depreciation 28,540 Factory rent 8,500 Property taxes 3.000 Factory administration 15,300 Total expense $ 141,430