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 qis the number of labor-hours worked In a month: Cost Formulas Direct labor $16.20q Indirect labor $4.580 $1.60g $5,100 $e.7eq Utilities Supplies Equipment depreciation Factory rent $1,400 $e.40q $18,280 $2.90g $8,200 $2,90e Property taxes $13,200 $e.60q Factory administration The Production Department planned to work 4,100 labor-hours In March; however, It actually worked 3,900 labor-hours during the month. Its actual costs Incurred In March are listed below Actual Cost Incurred in March Direct labor 64,740 Indirect labor 10,240 Utilities 8,360 $ 3,250 $ 29,510 Supplies Equipment depreciation Factory rent 8,600 $ 2,900 $ 14,890 Property taxes Factory administration 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 Productlon Department's flexible budget performance report for March, Including both the spending and activity varlances