Packaging Solutions Corporation manufoctures and sells a wide variety of packoging 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 wotked in a month The Production Depertment planned to work 4,300 laborthours in Merch, however, it actualy worked 4,100 labor-hours during 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 fexble budget for the month. 3. Prepare the Production Department's fiexible 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 menth. 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 repc variances. Complete this question by entering your answers in the tabs below. Prepare the Production Department's fexible budget for the month. 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 fexible budged 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 elfect (he., zero variance). Input all amounts as positive values.)