Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget 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 effect (i.e., zero variance). Input all amounts as positive values.) Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Results Labor-hours 4,200 Direct labor $ 69,600 Indirect labor 11,200 Utilities 7,010 Supplies 2,890 Equipment depreciation 30,700 Factory rent 8,900 Property taxes 2,500 Factory administration 14,530 Total expense $ 147,330 Flexible Budget Planning Budget