Actual Planning Results Budget Variances Liters of blood collectec 880700 10,369 12,225 10,045 2,180 $8,225 $ 2144U Medical supplies$ Lab tests Equipment Rent 2,070 1,800 270 U depreciation 1,200 1,200 0 348 320 28 U 14,210 14,060 Utilities Administration 150 U Total expense40.422,35.650s 4772U The managing director of the blood bank was very unhappy with this report, claiming that his costs were higher than expected due to the emergency on the neighboring islands. He also pointed out that the additional costs had been fully covered by payments from grateful recipients on the other islands. The government official who prepared the report countered that all of the figures had been submitted by the blood bank to the government; he was just pointing out that actual costs were a lot higher than promised in the budget The following cost formulas were used to construct the planning budget: $11.75q $14.35q $1,800 $1,200 $320 Medical supplies Lab tests Equipment depreciation Rent Utilities $12,800 Administration $1.80q Required 1. Complete the performance report for September using the flexible budget approach. (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. Do not round intermediate calculations and round your final answers to nearest whole dollar.) St. Lucia Blood Bank Flexible Budget Performance Report For the Month Ended September 30 Actual Results Medical supplies $10,369 Spending Variances Flexible Budget Planning Activity Variances Budget Lab tests Equipment depreciation Rent Utilities Administration Total expense $ 8,225 10,045 1,800 1,200 320 14,060 12,225 2,070 1,200 348 14,210 $40,422 0