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Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Direct labor Indirect labor Utilities Supplies Equipment depreciation Cost Formulas $16.50q $4,200+ $1.40q $5,200+ $0.409 $1,500+ $0.309 $18, 200+ $2.909 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: $8,200 $2,900 $13,500+ $0.50q Required 1 Actual Cost Incurred in March $ 67,628 $9,260 $2,270 $2,970 $ 29,800 $8,600 $2,900 $ 14,830 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. Prepare the Production Department's flexible budget performance report for March. Complete this question by entering your answers in the tabs below. Required 2 Required 3

Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Direct labor Indirect labor Utilities Supplies Equipment depreciation Cost Formulas $16.50q $4,200+ $1.40q $5,200+ $0.409 $1,500+ $0.309 $18, 200+ $2.909 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: $8,200 $2,900 $13,500+ $0.50q Required 1 Actual Cost Incurred in March $ 67,628 $9,260 $2,270 $2,970 $ 29,800 $8,600 $2,900 $ 14,830 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. Prepare the Production Department's flexible budget performance report for March. Complete this question by entering your answers in the tabs below. Required 2 Required 3

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 63E: Use the following information for Exercises 9-63 and 9-64: Palladium Inc. produces a variety of...
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Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas, where a 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 $16.509 $4,200+ $1.40q $5,200+ $0.409 $1,500+ $0.30q $18,200+ $2.909 Direct labor Indirect labor Utilities Supplies Equipment depreciation $8,200 $2,900 $13,500 + $0.509 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: Actual Cost Incurred in March $ 67,620 $9,260 $ 7,270 $ 2,976 $ 29,800 $8,600 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. Prepare the Production Department's flexible budget performance report for March. $ 2,900 $ 14,830 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3
Transcribed Image Text:Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas, where a 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 $16.509 $4,200+ $1.40q $5,200+ $0.409 $1,500+ $0.30q $18,200+ $2.909 Direct labor Indirect labor Utilities Supplies Equipment depreciation $8,200 $2,900 $13,500 + $0.509 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: Actual Cost Incurred in March $ 67,620 $9,260 $ 7,270 $ 2,976 $ 29,800 $8,600 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. Prepare the Production Department's flexible budget performance report for March. $ 2,900 $ 14,830 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3
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