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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

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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 formules, where is the number of labor-hours worked in a month: Cost Formulas Direct labor $16.404 Indirect labor $4,200 - $2.000 Utilities $5,300 + $0.604 Supplies $1,700 + $0.209 Equipment depreciation $18,100 + $2.500 Factory rent $8,100 Property taxes $2,700 Factory administration $13,600 + $0.600 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 $ 68,840 $ 11,90 $ 8,270 $ 2,770 $ 28,350 $ 8,500 $ 2,700 $ 15,410 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. 5 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 18 points Prepare the Production Department's planning budget for the month. eBook Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 Budgeted labor-hours Print Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 0 5 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 18 points Prepare the Production Department's flexible budget for the month. Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 eBook Print Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 0 5 Complete this question by entering your answers in the tabs below. 18 points Required 1 Required 2 Required 3 Prepare the production Department's flexible budget performance report for March, including both the spending and activity variance), Input all amounts as positive values.) variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (ie, zero Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget 4,100 PI Latour Director Indirect labor Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expone $ 50,640 11.000 8.270 2,770 20.050 1,500 2,700 15,410 S166120

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