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 expenses < Required 1 Required 2 > each variance by selecting for favorable, variance). Input all amounts as positive values. for favorable, and None" for no effect (i.e., zero Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Results Labor-hours 4,300 Direct labor $ 70,770 Indirect labor 12,030 Utilities 7,690 Supplies 3,510 Equipment depreciation 30,440 Factory rent 8,800 Property taxes 3,000 Factory administration Total expenses 15,930 $ 152,170 Flexible Budget Planning Budget 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 expenses Direct labor Indirect labor Utilities Cost Formulas $16.10q $4,300 $1.90q $5,500 + $0.40q Supplies $1,500 + $0.40q Equipment depreciation $18,400 + $2.80q Factory rent $8,400 $3,000 $13,100 + $0.80q Property taxes Factory administration The Production Department planned to work 4,500 labor-hours in March; however, it actually worked 4,300 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 70,770 $ 12,030 $ 7,690 $ 3,510 $ 30,440 $ 8,800 $ 3,000 $ 15,930