Problem 9-22 Performance Report for a Nonprofit Organization (L09-1, LO9-4, LO9-6] The St. Lucia Blood Bank, a private charity partly supported by government grants, located on the Caribbean Island of St. Lucia. The blood bank has just finished its operations for September, which was a particularly busy month due to a powerful hurricane that hit nelanboring lands causing many Inlurles The hurricane largely bypassed St. Lucia, but residents of St. Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank colected and processed over 20% more blood than had been originally planned for the month. A report prepared by a government official comparing actual costs to budgeted costs for the blood bank appears below. Continued 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 780 600 Medical supples $9.120 56.950 $ 2160 Labtests 10.92087302190 Equipment depreciation 560 1300 260 U Dent 1200 12000 336 310 25 U Administration 13.640 13.460 190 U Total expense $ 58,778 31960, 4815 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 langs. 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 Medical supoiles Labtests Equipment depreciation $11.609 $14.559 $1.300 $1200 $310 $12.500 - $1609 Utilities Administration Required: t Complete the performance report for September using the edible budget approach indicate the effect of each variance by selecting for favorable. U for unfavorable, and "None for no effect ile.. zero variance). Input all amounts as positive values. Do not round Intermediate calculations and round your final answers to nearest whole dollar) Activity Variances 5 Medical supplies Labtests Equipment depreciation Rent Utilities Administration Total expense s St. Lucia Blood Bank Flexible Budget Performance Report For the Month Ended September 30 Actual Rebuite Spending variances Budget 9,120 10.920 1,5601 1.2001 336 1 3.640 36,776 Planning S6.960 8.730 1300 1200 310 13.460 $ 31.960