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Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are preparedRequired: . Prepare the Production Departments planning budget for the month. 2. Prepare the Production Departments flexiblRequired: 1. Prepare the Production Departments planning budget for the month. 2. Prepare the Production Departments flexibRequired: 1. Prepare the Production Departments planning budget for the month 2. Prepare the Production Departments flexibl

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Answer #1
Required 1 :
Packaging Solutions Corporation
Production department planning budget
For the month ended March 31
Budgeted labor hours 4300
Direct labor [ 16.10 * 4300 ] 69230
Indirect labor [ 4000 + ( 1.30 * 4300 ) ] 9590
Utilities [ 5500 + ( 0.80 * 4300 ) ] 8940
Supplies [ 1600 + ( 0.30 * 4300 ) ] 2890
Equipment depreciation [ 18500 + ( 3.10 * 4300 ) ] 31830
Factory rent 8400
Property taxes 2900
Factory administration [ 13300 + ( 0.80 * 4300 ) ] 16740
Total expense 150520
Required 2 :
Packaging Solutions Corporation
Production department flexible budget
For the month ended March 31
Actual labor hours 4100
Direct labor [ 16.10 * 4100 ] 66010
Indirect labor [ 4000 + ( 1.30 * 4100 ) ] 9330
Utilities [ 5500 + ( 0.80 * 4100 ) ] 8780
Supplies [ 1600 + ( 0.30 * 4100 ) ] 2830
Equipment depreciation [ 18500 + ( 3.10 * 4100 ) ] 31210
Factory rent 8400
Property taxes 2900
Factory administration [ 13300 + ( 0.80 * 4100 ) ] 16580
Total expense 146040
Required 3 :
Packaging Solutions Corporation
Spending variances
For the month ended March 31
Actual results Spending variances Flexible budget
Labor hours 4100 4100
Direct labor 67550 1540 U 66010
Indirect labor 8770 560 F 9330
Utilities 9330 550 U 8780
Supplies 3100 270 U 2830
Equipment depreciation 31210 0 None 31210
Factory rent 8800 400 U 8400
Property taxes 2900 0 None 2900
Factory administration 15970 610 F 16580
Total expense 147630 1590 U 146040
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