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: cost formulasdirect labor $16.40qindirect labor $4,200 + $1.80qutilities $5,100 + $0.40qsupplies $1,700 + $0.20qequipment depreciation $18,400 + $2.50qfactory rent $8,400property taxes $2,800factory administration $13,600 + $0.80qthe production department planned to work 4,400 labor-hours in march; however, it actually worked 4,200 labor-hours during the month. its actual costs incurred in march are listed below: actual cost incurred in marchdirect labor $ 70,480indirect labor $ 11,300utilities $ 7,250supplies $ 2,790equipment depreciation $ 28,900factory rent $ 8,800property taxes $ 2,800factory administration $ 16,350required: 1. prepare the production department’s planning budget for the month.2. prepare the production department’s flexible budget for the month.3. calculate the spending variances for all expense items.