Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: $ 10,320 $ 7,550 $ 2,050 $ 29,100 $ 8,500 $ 2,700 $ 16,790 1. Prepare the Production Department's planning budget for the month. 2. Prepare the Production Department's flexible budget for the month. 3. Prepare the Production Department's flexible budget performance report for March, including both the spending and activ variances. Complete this question by entering your answers in the tabs below. 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 Flexible Results Budget Labor-hours 4,200 Direct labor $ 69,160 Indirect labor 10,320 Utilities 7,550 Supplies 2,050 Equipment depreciation 29,100 Factory rent 8,500 Property taxes 2,700 Factory administration 16,790 Total expense $ 146,170 < Required 2 Required 3 Planning Budget 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 Supplies Equipment depreciation Factory rent Property taxes Factory administration. Cost Formulas $16.10q $4,100 +$1.60q $5,400 + $0.40q $1,400 +$0.10q $18,600 + $2.50q $8,100 $2,700 $13,600 +$0.90q 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 Actual Cost Incurred in March $ 69,160 $ 10,320 $ 7,550 Indirect labor Utilities Supplies Factory rent $ 2,050 Equipment depreciation $ 29,100 $ 8,500 $ 2,700 $ 16,790 Property taxes Factory administration Required: 1. Prepare the Production Department's planning budget for the month. 2. Prepare the Production Department's flexible budget for the month. 3. Prepare the Production Department's flexible budget performance report for March, including both the spending and activity variances. by entering your answers in the tabs below.