Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration. Direct labor Indirect labor Utilities Supplies Equipment depreciation i Cost Formulas Factory rent Property taxes Factory administration Required: $16.409 $4,000 $1.500 $5,500 $0.50q $1,200 $0.200 $18,000 $2.809 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: $13,600 $8,500 $2,600 50.600 Actual Cost Incurred in March $70,400 $ 10,580 $ 8,090 $ 2,290 $ 29,760 $ 8,900 $2,000 $ 15,470 3.25 points eBook Print References 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 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 Actual labor-hours Direct labor Indirect labor Usities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expenses $ 0 Required 2 > pints eBook Punt References 3. Prepare the Production Department's flexible budget performance report for March. 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 Utilbes Supplies Equipment depreciation Factory rent Property taxes Factory administration. Total expenses S 0 < Required 1 Required 3 > 4 3 ances Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget performance report for March. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance). Input all amounts as positive values. Labor-hours Direct labor, Indirect labor Utilibes Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expenses Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Results 5 4,200 70,480 10,580 8,000 2,290 29,760 8,900 2,600 15,470 $ 148,170 < Required 2 Flexible Budget Required 3 Planning Budget