pg 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 q is the number of labor-hours worked in a month: The Production Department planned to work 8,000 labor-hours in March; however, it actually worked 8.400 labor-hours during the month. Its actual cosis incurred in March are listed below: Required: 1. Using Exhibit 9-2 as your guide, prepare the Production Department's planning budget for the nonth. 2. Using Exhibit 9-5 as your guide, prepare the Production Deparment's flexible budget for the month. 3. Using Exhibit 9.8 as your guide, prepare the Production Department's flexible budget performance report for March, including both the spending and activity variances