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Saved Help Save & Exit Submit Check my work 1 Hint he St. Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of St. icia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane at hit neighboring Islands causing many injuries. The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly onated their blood to help people on other Islands. As a consequence, the blood bank collected and processed over 20% ore blood than had been originally planned for the month report prepared by a government official comparing actual costs to budgeted costs for the blood bank appears below. ontinued support from the government depends on the blood bank's ability to demonstrate control over its costs. St. Lucia Blood Bank Cost Control Report For the Month Ended September 30 Actual Planning Results Budget Variances Liters of blood collected 530 410 5 Medical supplies Lab test Equipment depreciation Rent Utilities Administration Total expense 10,7015 5,888 4,900 2,000 1,110 13,189 37.788 0,015 1,886 U 5.658 230 U 4,500 400 0 2.000 0 1,000 110 U 12,599 590 U 34,572 53,216 U $ he managing director of the blood bank was very unhappy with this report, claiming that his costs were higher than expected je to the emergency on the neighboring islands. He also pointed out that the additional costs had been fully covered by yyments from grateful recipients on the other Islands. The government official who prepared the report countered that all of e figures had been submitted by the blood bank to the government he was lust pointing out that actual costs were a lot Help Seved Submit Save & Exit Quiz - Chapter 9 Check my work 1 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: Hint Medical supplies Lab tests Equipment depreciation Rent Utilities Administration Cost Formulas $21.500 $13.800 $4,500 $2,000 $1,000 $11,000+ $3.900 Required: 1.Complete the flexible budget performance report for September. (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.) St. Lucia Blood Bank Flexible Budget Performance Report For the Month Ended September 30 Actual Flexible Planning Results Budget Budget Lifers of blood collected 530 410 Medical supplies s 10,701 $ 8,815 Mc Graw Prey 1 of 3 Next > Check my w 1 Medical supplies Lab tests Equipment depreciation Rent Utilities Administration $21.504 $13.00 $4,500 $2,000 $1,000 $11,000 - $3.900 Hint Required: 1.Complete the flexible budget performance report for September (Indicate the effect of each variance by selecting "F" f favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) St. Lucia Blood Bank Flexible Budget Performance Report For the Month Ended September 30 Flexible Budget Actual Rosults 530 Planning Budget 410 Liters of blood collected $ Medical supplies Lab tests Equipment depreciation Rent Utilities Administration Total expense $ 10,701 5,888 4.900 2,000 1.110 13.189 $ 37,788 8,815 5,658 4,500 2,000 1,000 12,599 34,572 $ Quiz - Chapter Check my work 3 You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and do what you can to help us get better control of our manufacturing overhead costs." You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Hint Cost Formula Utilities $16,400 + $0.13 per machine-hour Maintenance $38,400 + $2.10 per machine-hour Supplies $0.90 per machine-hour Indirect Labor $94,900 + $1.80 per machine-hour Depreciation $68,300 Actual Cost in March 5 21,050 $ 78,400 $ 19,600 $ 135.400 $ 70,000 During March, the company worked 20,000 machine-hours and produced 14,000 units. The company had originally planned to work 22,000 machine-hours during March Required: 1. Calculate the activity variances for March 2. Calculate the spending variances for March Complete this question by entering your answers in the tabs below. Required 1 Required 2 Saved Quiz. Chapter 9 Check my work 3 LULUHU HU vur 2. Calculate the spending variances for March Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Calculate the spending variances for March (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) FAB Corporation Spending Variances For the Month Ended March 31 Utilities Maintenance Supplies Indirect labor Depreciation Total