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 $16.209 $4,100 + $1.500 $5, 100 + $0.300 $1,300 - 50.300 $18,700 - $2.600 $0,300 $2,800 $13,100 - 50.500 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 Cost Incurred in March Direct labor $67,980 Indirect labor $ 9,730 Utilities $ 6, 780 Supplies $ 2,800 Equipment depreciation $ 29, 360 Factory rent $8,700 Property taxes $ 2,800 Factory administration $14.480 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 Diect labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 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 Uniles Supplies Equipment depreciation Factory rent Property taxes Factory Administration Total expense IMMERRIN 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 (... zero variance). Input all amounts as positive values.) Packaging Solutions Corporation Prachcuon Department Flexible Budget Performance Report For the Month Ended March 31 AB Flexible Result Budget 4.100 Planning But Labor-hours s Direct labor Indirect labas 67.980 9.730 6.780 2.800 Supplies Equipment depreciation Factory tent Property tanes Factory administration 29.300 8.700 2,800 14,180 S 142.630 Total expense
