Please help with this

Speedy Laboratories Inc. is a private medical laboratory headquartered in Vancouver, British Columbia. The lab has just wrapped up operations for the 2021 fiscal year, their last month of operations being April. The lab has been particularly busy due to the extra testing required due to the COVID-19 global pandemic. As a result, Speedy Laboratories processed 30% more samples from their clients than originally budgeted for. Speedy Laboratories is now preparing their April 2021 month-end results, including the report below which compares their actual costs to budgeted expenses Speedy Laboratories Inc. Actual-to-Budget Comparison For the month ended April 30, 2021 Actual Budget Budget Variance Tests conducted during the month 2,000 1,500 500 Variable Costs: Medical equipment 18,372 12,680 5,692 Laboratory testing equipment 29,193 14,716 14,477 Staff room supplies 2,785 1,733 1,052 Office equipment 587 638 (51) Total variable costs 50,937 29,767 21,170 Fixed Costs: Employee wages and expenses $ 32,850 25,950 6,900 Depreciation expense on medical equipment 4,950 4,485 465 Office rent expense 3,275 3,275 Utilities expense 693 589 104 Total fixed costs 41,768 34,299 7,469 Total Expenses |92,705 64,066 28,639 When the President of Speedy Laboratories, Dr. Tony Bell, reviews the monthly report, he is very disappointed. Costs have clearly increased due to the pandemic, and the company is also earning higher revenues due to the increased level of testing. You respond that you were simply reporting on the fact that the actual costs are higher than what was budgeted for. REQUIRED: a) Prepare an updated monthly report for April, showing the results with a flexible budget. Be sure to indicate whether your variances are Favourable or Unfavourable. You do not need revenues in order to complete this question. b) Based on your flexible budget results, which variances should be investigated further. Why? Support your decision with an explanation