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Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget performance report for March, including both the spending and activity variances. Note: Indicate
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Required
Prepare the Production Department's flexible budget performance report for March, including both the spending and activity variances.
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values.
tablePackaging Solutions CorporationProduction Department Flexible Budget Performance ReportFor the Month Ended March tableActualResultsSpending Variances,tableFlexibleBudgettableActivityVariancesdots,tablePlanningBudgetLaborhours,@Direct labor,$EIndirect labor,&UtilitiesSuppliesEquipment depreciation,Factory rent,Property taxes,tFactory administration,Total expense,$
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Exercise $Algo Flexible Budget Performance Report in a Cost Center LO LO LO LO
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where is the number of laborhours worked in a month:
The Production Department planned to work laborhours in March; however, it actually worked laborhours during the month. Its actual costs incurred in March are listed below:
tabletableActual costIncurred inMarchDirect labor,$
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