Exercise 9-14 (Algo) Flexible Budget Performance Report in a Cost Center [LO9-1, LO9-2, LO9-3, LO9-4] 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: The Production Department planned to work 4,200 labor-hours in March; however, it actually worked 4,000 labor-hours during the month. Its actual costs incurred in March are listed below: 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. Complete this question by entering your answers in the tabs below. Prepare the Production Department's flexible budget performance report for March, including both the spending and activity Note: Indicate the effect of each varionce by sclecting "F" for favorable, " U " for unfavorable, and "None" for no effect (li.e., zero variances. varance). Input all amounts as positive values. 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 variances. Complete this question by entering your answers in the tabs below. Prepare the Production Department's planning bidget for the month. Ine rouucuon vepariment planile in March are listed below: month. Its actual costs incurred in Required: 1. Prepare the Production Department's planning budget for th 2. Prepare the Producfion Department's flexible budget for the 3. Prepare the Production Department's flexible budget perforr variances. Complete this question by entering your answers in the Prepare the Production Department's flexible budget for the mon Prepare the Production Department's flexible budget performance report for March, including both the spending and act Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect variances. variance). Input all amounts as positive values