None Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are preparedmonthly for each department. The planning budget and flexible budget for the Production Department are based on the followingformulas, where q is the number of labor-hours worked in a month:Cost Formulas$16.60q$4,600 + $2.10qDirect laborIndirect laborUtilities$5,700 + $0.50qSupplies$1,300 + $0.10qEquipment depreciation$18,100 + $2.40qFactory rent$8,100$3,000$13,400 + $0.70qProperty taxesFactory administrationThe Production Department planned to work 4,100 labor-hours in March; however, it actually worked 3,900 labor-hours during themonth. Its actual costs incurred in March are listed below:Actual CostIncurred inMarch$ 66,380Direct laborIndirect laborUtilitiesSupplies$ 12,390$ 8,140$ 1,920Equipment depreciation$ 27,460$ 8,500$ 3,000$ 15,500Factory rentProperty taxesFactory administrationRequired: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.Complete this question by entering your answers in the tabs below.

Name: None Packaging Solutions Corporation manufactures and sells a wide var
Uploaded: 2024-03-20T06:33:06.000Z
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Description: None Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are preparedmonthly for each department. The planning budget and flexible budget for the Production Department are based on the foll