O Question 4 - HW Chapter 9 C X->ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/guAppsM GmailYouTubeMapsM FIN 3000 Fall 2021< ВackThis window shows your responses and what was marked correct and incorrect from your previous attempt......... ........aumiTation207 70Required: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.6.25/10Complete this question by entering your answers in the tabs below.points awardedScoredRequired 1Required 2Required 3Calculate the spending variances for all expense items. (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 CorporationSpending VariancesFor the Month Ended March 31ActualFlexibleResultsSpending VariancesBudgetLabor-hours8,4008,000 XDirect labor$ 134,7302$6,300 XU$ 126,400 XIndirect labor19,8601,140 XF21,000 XUtilities14,5701,770 X U12,800 XSupplies4,980680 X U4,300 XEquipment depreciation54,0801,480 XU52,600 XFactory rent8,700300 OU8,400Property taxes2,100None2,100Factory administration26,470430 XF26,900 XTotal expense$265,490$ 10,070 XUO $ 255,400 X< Required 2Required 3 >MacBook Air4. Question 4- HW Chapter 9 - C Xezto.mheducation.com/ext/map/index.html?_con%3con&external_browser=D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/questi..AppsM GmailYouTubeМapsM FIN 3000 Fall 2021( BackThis window shows your responses and what was marked correct and incorrect from your previous attempt.国ReacExercise 9-16 (Static) Flexible Budgets in a Cost Center [LO9-1, LO9-2]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 g is the number of labor-hours worked in a month:6.25/10points awardedCost FormulasDirect labor$15.80g$8,200 + $1.60g$6,400 + $0.80g$1,100 + $0.40g$23,000 + $3.70gScoredIndirect laborUtilitiesSuppliesEquipment depreciationFactory rentProperty taxesFactory administration$8,400$2,100$11,700 + $1.90qThe Production Department planned to work 8,000 labor-hours in March; however, it actually worked 8,400 labor-hours during themonth. Its actual costs incurred in March are listed below:Actual CostIncurred inMarchDirect labor$ 134,730$ 19,860$ 14,570$ 4,980$ 54,080$ 8,700$ 2,100$ 26,470Indirect laborUtilitiesSuppliesEquipment depreciationFactory 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.MacBook Airesc吕0O00O00DIIDD4.

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 Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $15.80g $8,200 + $1.60q $6,400 + $0.80q $1,100 + $0.40q $23,000 + $3.70g $৪,400 $2,100 $11,700 + $1.90q The Production Department planned to work 8,000 labor-hours in March; however, it actually worked 8,400 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor $ 134,730 $ 19,860 $ 14,570 $ 4,980 $ 54,080 $ 8,700 $ 2,100 $ 26,470 Indirect labor Utilities Supplies Equipment depreciation Factory rent 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. Calculate the spending variances for all expense items.