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 Cont Formulas $16.309 $4,500 + $1.704 $5,700 + $0.809 $1,400 + $0.104 $18,300 - $3.009 $8,400 $2,900 $13,600 + $0.809 The Production Department planned to work 4,300 labor-hours in March, however, it actually worked 4,100 labor-hours during the month. Its actual costs incurred in March are listed below: Actual cont Incurred in March Direct labor $68,410 Indirect labor $ 10,990 Utilities $ 9,530 fupplies $ 2,040 Equipment depreciation $ 30,600 Factory rent $8,800 Property taxes 5 2.900 Factory administration $ 16,270 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 Budgeted labor-hours 4,300 Direct labor $ 70,090 Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administrat Total expense $ 70,090 Prex 1 of 1 BE Next 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 $ 0 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 (ie variance). Input all amounts as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Endod March 31 Actual Flexible Results Budget 4,100 Planning Budget Labor-hours Direct labor $ Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes 68,410 10,990 9,530 2,040 30,600 8,800 2,900 Prey 1 of 1 !! Next