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 gis 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 $4,200 + $2.000 $5,500 + $0.500 $1,600 + $0.200 $18,200 + $2.500 $8,500 $2,500 $13,200 + $0.504 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: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 68,410 $ 11,980 $ 8,040 $ 2,670 $28,450 $ 8,900 $ 2,500 $ 14,580 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. 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 Indirect labore Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense TO Required 1 Required 2 > 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! 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 Actual labor-hours Direct 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. Calculate the spending variances for all expense items! Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the spending variances for all expense items. (Indicate the effect of each variance b "U" for unfavorable, and "None" for no effect i.e., zero variance). Input all amounts as positive Packaging Solutions Corporation Spending Variances For the Month Ended March 31 Actual Results Spending Variances 4,100 Flexible Budget Labor-hours $ 8 S U Direct labore Indirect labore Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 68,410 11,980 ,040 2,670 28,450 8,900 2,500 14,580 145,530 None None F $