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 Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $16.20q $4,200 $1.80q $5,500 $0.40q $1,400 $0.30q $18,100 $2.90q $8,800 $2,600 $13,108$0.68q The Production Department planned to work 4,200 labor-hours in March; however, it actually worked 4,000 labor-hours during the month. Its actual costs incurred in March are listed below Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March S 66,360 $ 10,940 $ 7,57 $ 2,870 5 29,700 8,400 $ 2,608 14,850 Reauired The Production Department planned to work 4,200 labor-hours in March; however, it actually worked 4,000 labor-hours during the month. Its actual costs incurred in March are listed below: 5 Actual Cost Incurred in March $ 66,360 10,940 $7,570 $ 2,870 $ 29,700 $ 8,400 $ 2,600 14,856e Direct labor Indirect labor Utilities Equipment depreciation Factory rent Property taxes Factory administration points eBook ReferencesRequired: 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 Required 1 Required 2 Required 3 5 Prepare the Production Department's planning budget for the month. Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 points eBook Direct labor References Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Required 1 Required 2> Required 1 Required 2 Required 3 5 Prepare the Production Department's flexible budget for the month Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 points eBook Direct labor ReferencesIndirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Required 1 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 (i.e., zero variance). Input all amounts as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 points Actual Flexible Planning Bud Labor-hours 4,000 eBook References Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense S 66,360 10,940 7,570 2,870 29,700 8,400 2,600 14,850 S 143,290 Required 2 Required 3
