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: Cost Formulas Direct labor $16.209 Indirect labor $4,300 - $2.109 Utilities $5,880 + $0.800 Supplies $1,800 + $0.100 Equipment depreciation $18,500 - $2.609 Factory rent $8,300 Property taxes $2,600 Factory administration $13,300 $0.900 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 $12,510 Utilities $ 9,630 Supplies 5 2,440 Equipment depreciation $ 29,160 Factory rent $ 8,700 Property taxes $ 2,600 Factory administration $ 16,480 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. Dani Bar 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 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Required 2 > 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 Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 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 "P" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance). Input all amounts as positive values.) Packaging Solutions Corporation Production Department Floxible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget Labor hours 4,100 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $ 67.980 12,510 9,630 2.440 29.160 8,700 2,600 16,400 $ 149.420 Total expense
