Business, 05.06.2020 15:59, maxzavala364

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 Formulas
Direct labor $16.20q
Indirect labor$4,300$1.70q
Utilities$5,600$0.70q
Supplies$1,400$0.20q
Equipment depreciation$18,400$2.90q
Factory rent $8,200
Property taxes $2,700
Factory administration$13,200$0.80q
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
Direct labor$ 66,360
Indirect labor$ 10,620
Utilities8,930
Supplies2,450
Equipment depreciation$ 30,000
Factory rent8,600
Property taxes$ 2,700
Factory administration$ 15,796
Required 1:

Prepare the Production Department's planning budget for the month

Required 2:

Prepare the Production Department's flexible budget for the month.

Answers: 2

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Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Perform...