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 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 Cost Formulas $16.309 $4,800 + $1.500 $5,500 + $0.30g $1,200 + $0.209 $18, 600 + $2.609 $8,600 $2,800 $13,300 + $0.709 The Production Department planned to work 4,000 labor-hours in March; however, it actually worked 3,800 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor $ 63,520 Indirect labor $ 9,980 Utilities $7,090 Supplies $ 2,210 Equipment depreciation $ 28, 480 Factory rent $ 9,000 Property taxes $ 2,800 Factory administration $ 15,330 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $ 63,520 $ 9,980 $ 7,090 $ 2,210 $ 28,480 $ 9,000 $ 2,800 $ 15,330 Required: 1. Prepare the Production Department's planning budget for the month. 2. Prepare the Production Department's flexible budget for the month. 3. Calculate the spending variances for all expense items. s 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