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please solve all requirments Exercise 9-16 (Algo) Flexible Budgets in a Cost Center (LO9-1, LO9-2] Packaging Solutions Corporation manufactures and sells a wide variety of
please solve all requirments
Exercise 9-16 (Algo) Flexible Budgets in a Cost Center (LO9-1, LO9-2] 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: Cost Formulas Direct labor $16.489 Indirect labor $4,400 + $1.709 Utilities $5,788 + $0.709 Supplies $1,800 + $0.389 Equipment depreciation $18,600 + $3.089 Factory rent $8,300 Property taxes $2,700 Factory administration $13,600 + 50.569 The Production Department planned to work 4,000 labor-hours in March; however, it actuallyIworked 3,800 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor $ 63,920 Indirect labor $ 10,380 Utilities $ 8,890 Supplies $ 3, 210 Equipment depreciation $ 30,000 Factory rent $ 8,700 Property taxes $ 2,700 Factory administration $ 14,830 Required: 1. Prepare the production Department's planning budget for the month 2. Prepare the Production Department's flexible budget for the month 3. Calculate the spending variances for all expense Items -mework i Complete this question by entering your answers in the Required 1 Required 2 Required 3 Prepare the Production Department's planning budget for the mo Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 Budgeted labor-hours 4,000 Direct labor $ 65,600 Indirect labor 11,200 Utilities 8,500 Supplies 3,000 Equipment depreciation 30,600 Factory rent 8,300 Property taxes 2,700 Factory administration 15,600 Total expense $ 145,500 Roquired Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget for the 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 $ $ 0 Step by Step Solution
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