help please answer this with compulsory explanation , computation , for each parts and steps clearly in detail answer in text form no copy paste please underline with complete and clear working with explanation and computation Exercise 9-16 (Algo) Flexible Budgets in a Cost Center [LO9-1, LO9-2]Packaging Solutions Corporation manufactures and sells a wide variety of packagingproducts. Performance reports are prepared monthly for each department. The planningbudget and flexible budget for the Production Department are based on the followingformulas, where q is the number of labor-hours worked in a month:Direct laborIndirect laborUtilitiesCost Formulas$16.609$4,600 +$1.409$5,700 + $0.509Supplies$1,500 + $0.209Equipment depreciation.$18,100 + $2.809Factory rent$8,200Property taxes$2,900Factory administration$13,400 + $0.709The Production Department planned to work 4,400 labor-hours in March; however, it actuallyworked 4,200 labor-hours during the month. Its actual costs incurred in March are listedbelow:Direct laborIndirect laborUtilitiesSuppliesEquipment depreciationFactory rentProperty taxesFactory administrationRequired:Actual CostIncurred inMarch$ 71,360$ 9,940$ 8,290$ 2,590$ 29,860$ 8,600$ 2,900$ 15,7101. 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.

Variances is the amount of difference between the actual values and the values estimated by the…

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: Direct labor Indirect labor Utilities Cost Formulas $16.60q $4,600 +$1.409 $5,700 + $0.50q Supplies $1,500 + $0.20q Equipment depreciation $18,100 + $2.809 Factory rent $8,200 Property taxes Factory administration $2,900 $13,400 + $0.709 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: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: Actual Cost Incurred in March $ 71,360 $ 9,940 $ 8,290 $ 2,590 $ 29,860 $ 8,600 $ 2,900 $ 15,710 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.