Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance repo prepared monthly for each department. The planning budget and flexible budget for the Production Department 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 Direct labor Indirect labor Utilities Supplies Equipment depreciation Cost Formulas The Production Department planned to work 8,000 labor-hours in March; however, it actually worked 8,400 labo the month. Its actual costs incurred in March are listed below: Factory rent Property taxes Factory administration $15.809 $8,200+ $1.60q $6,400+ $0.809 $1,100+ $0.40q $23,000+ $3.709 $8,400 $2,100 $11,700+ $1.90q Actual Cost Incurred in March $ 134,730 $ 19,860 $ 14,570 $ 4,980 $ 54,080 $ 8,700 $ 2,100 $ 26,470

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 rariances. Complete this question by entering your answers in the tabs below. Prepare the Production Department's flexible budget for the month. Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance rep prepared monthly for each department. The planning budget and flexible budget for the Production Department the following formulas, where q is the number of labor-hours worked in a month: The Production Department planned to work 8,000 labor-hours in March; however, it actually worked 8,400 labo the month. Its actual costs incurred in March are listed below: 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. Prepare the Production Department's planning budget for the month. Complete this question by entering your answers in the tabs below. 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.)