Packaging Solutions Corporation manufactures and sells a wlde 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 q Is the number of labor-hours worked In a month: Cost Formulas Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $16.48q $4,280$2.80q $5,688$8.78q $1,78$8.48q $18,280 $3.88q $8,8e0 $2,800 $13,70$8.68q 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 Property taxes Factory administration Actual Cost Incurred in March 68,848 $ 11,98e $ 9,8ee $ 3,63e s3e,5ee $8,488 rent 2,8e8 $15,518 Requlrec 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 varfances. Complete this question by entering your answers in the tabs below Required 1Required 2Required 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