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 is 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 $16.100 $4,400 + $1.709 $5,600 + $0.809 $1,500 + 50.400 $18,200 + $2.909 $8,200 $2,700 $13,700 + 50.800 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: Actual Coat Incurred in March Direct labor $ 67,550 Indirect labor $ 10,890 Utilities $ 9,430 Supplies $ 3, 430 Equipment depreciation $ 30,090 Factory rent $ 8,600 Property taxes $ 2,700 Factory administration 516,370 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 Morch, 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. Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 0 med Required 2 > 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 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $ 0 Total expense Complete this question by entering your answers in the tabs below. Required 1 Required 2 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 (.e., zero variance). Input all amounts as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Planning Results Budget Budget Labor-hours 4,100 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $ 67,550 10,890 9,430 3,430 30.090 8,600 2,700 16,370 $ 149,060 Total expense
