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 $16.609 $4,500 + $1.309 $5,700 + $0.709 $1,500 + $0.400 518,400 + $2.Beg 58,380 $2,700 $13,400 + $0.704 int ences The Production Department planned to work 4100 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 $ 66,330 Indirect labor $ 9,010 utilities $ 8,960 Supplies $ 3,350 Equipment depreciation $ 29,320 Factory rent $ 8.700 Property taxes $ 2,700 Factory administration $ 15,500 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. Required 1 Required 2 Required Prepare the production Department's planning budget for the month Packaging Solutions Corporation Production Department Planning Budget 14 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 66,380 $ 9,010 $ 3,960 $ 3,350 $ 29,320 $8,700 $ 2,700 $ 15,500 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. 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 5 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 66,380 $ 9,010 $ 8,960 $ 3,350 $ 29,320 $ 8,700 $ 2,700 $ 15,500 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. 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 Total expense $ Factory rent Property taxes Factory administration > 8,60 $ 2,700 $ 15,500 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. 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 (t.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 3,900 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $ 66.380 9,010 8,960 3,350 29,320 8,700 2,700 15,500 $ 143,920 Total expense