Question: Please try and explain how you got calculations Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly

Please try and explain how you got calculations
Please try and explain how you got calculations Packaging Solutions Corporation manufactures
and sells a wide variety of packaging products. Performance reports are prepared

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 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 $16.30 $4,700 + $1.609 $5,400 + $0.800 $1,400 + $0,400 $18,000 + $2.909 $8,300 $2,700 $13,400 + 50.709 + The Production Department planned to work 4,300 labor-hours in March; however, it actually worked 4,100 labor-hours during the month. Its actual costs incurred in March are listed below: Actual cont Incurred in March Direct labor 668,410 Indirect labor $10,260 Utilities 69,230 Supplies $ 3,330 Equipment depreciation $ 29,890 Factory rent $ 0,700 Property taxes $ 2,700 Tactory administration $ 15,640 Required: Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Flexible Spending Variances Results Activity Variances Budget 4,100 Planning Budget Labor-hours Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense $ 68,410 10,760 9,230 3,330 29,890 8,700 2,700 15,840 $ 148,660 O None

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!