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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:

	Cost Formulas
Direct labor	$16.50q
Indirect labor	$4,300 + $1.30q
Utilities	$5,100 + $0.60q
Supplies	$1,200 + $0.10q
Equipment depreciation	$18,300 + $2.50q
Factory rent	$8,200
Property taxes	$2,800
Factory administration	$13,700 + $0.80q

The Production Department planned to work 4,400 labor-hours in March; however, it actually worked 4,200 labor-hours during the month. Its actual costs incurred in March are listed below:

	Actual Cost Incurred in March
Direct labor	$	70,920
Indirect labor	$	9,200
Utilities	$	8,130
Supplies	$	1,850
Equipment depreciation	$	28,800
Factory rent	$	8,600
Property taxes	$	2,800
Factory administration	$	16,450

Required:

1. Prepare the Production Departments planning budget for the month.

2. Prepare the Production Departments flexible budget for the month.

3. Prepare the Production Departments flexible budget performance report for March, including both the spending and activity variances.

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the Production Department's planning budget for the month. Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 Budgeted labor-hours Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration. Total expense $ 0 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 Budgeted labor-hours Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense 0 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 4,200 Flexible Budget Planning Budget Labor-hours Direct labor $ 70,920 Indirect labor 9,200 Utilities 8,130 CURREN Supplies 1,850 Equipment depreciation 28,800 Carton Factory rent. 8,600 Property taxes 2,800 Factory administration 16,450 Total expense $ 146,750 S