Prepare the Production Department$$s planning budget for the month.

Prepare the Production Department$$s flexible budget for the month.

Prepare the Production Department$$s flexible budget performance report for March.

Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department$$s planning budget and flexible budget are based on the following formulas, where q is the number of labor$-$hours worked in a month:

Cost Formulas

Direct labor $$16\mathrm{.}50$q

Indirect labor $$4,600+$ $$1\mathrm{.}40$q

Utilities $$5,800+$ $$0\mathrm{.}40$q

Supplies $$1,400+$ $$0\mathrm{.}10$q

Equipment depreciation $$18,100+$ $$2\mathrm{.}40$q

Factory rent $$8,200$

Property taxes $$2,500$

Factory administration $$13,400+$ $$0\mathrm{.}80$q

The Production Department planned to work $4,500$ labor$-$hours in March; however, it actually worked $4,300$ labor$-$hours during the month. Its actual costs incurred in March are listed below:

Actual Cost Incurred in March

Direct labor $ $72,570$

Indirect labor $ $10,080$

Utilities $ $7,990$

Supplies $ $2,060$

Equipment depreciation $ $28,420$

Factory rent $ $8,600$

Property taxes $ $2,500$

Factory administration $ $16,230$Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas,

where $q$ is the number of labor$-$hours worked in a month:

The Production Department planned to work $4,500$ labor$-$hours in March; however, it actually worked $4,300$ labor$-$hours during the month. Its actual costs incurred in March are listed below:

Required:

Prepare the Production Department's planning budget for the month.

Prepare the Production Department's flexible budget for the month.

Prepare the Production Department's flexible budget performance report for March.