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 tilities Supplies Topent depreciation Factory rent Property taxes factory administration Cost Formulas $16.484 $4,200 $1.400 $5,500 50. $1,400 + 50..300 $1,200 $3.10 53,100 $2,900 $13,100 30.604 The Production Department planned to work 4.100 tabor hours in March however, it actually worked 3.900 labor-hours during the month. Its actual couts incurred in March are listed below Actual tour Director $ 65,560 Indirect tobar 5.120 utilities $ 3,350 Supplies Equipment depreciation $30,290 Factory rent 18.500 Property $ 2,90 $ 14,750 Required: 1. Prepare the Production Department planning budget for the month 2. Prepare the Production Departments Rexible bidet for the month 3. Prepare the production Department's desobe budget performance report for March including both the spending and activity Varances