Packaging Solutions Corporation manufactures and sells a wide variety of packagi
ID: 2370471 • Letter: P
Question
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:
The company had budgeted for an activity level of 10,000 labor-hours in March. Prepare the Production Department's planning budget for the month. (Input all amounts as positive values. Omit the "$" sign in your response.)
The company actually worked 9,300 labor-hours in March. Prepare the Production Department's flexible budget for the month. (Input all amounts as positive values. Omit the "$" sign in your response.)
Prepare the Production Department's flexible budget performance report for March, including both the activity and spending variances. (Leave no cells blank - be certain to enter "0" wherever required. 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. Omit the "$" sign in your response.)
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:
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