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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:
Direct labor
$
16.30
q
Indirect labor
4,600
+
1.90
Utilities
5,600
0.70
Supplies
1,200
0.20
Equipment depreciation
18,500
2.80
Factory rent
8,200
Property taxes
2,900
Factory administration
13,500
The actual costs incurred in March in the Production Department are listed below:
Actual Cost Incurred in March
65,150
11,570
8,860
2,230
29,420
8,600
15,600
Required:
1. The company had budgeted for an activity level of 4,100 labor-hours in March. Complete the Production Department's planning budget for the month.
2. The company actually worked 3,900 labor-hours in March. Complete the Production Department's flexible budget for the month.
3. Calculate 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.)
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