The St. Lucia Blood Bank, a private charity partly supported by government grants, is 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 neighboring islands causing many injuries. The hurricane largely bypassed St Lucia, but residents of Si Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected 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 980 St. Lucia Blood Bank Cost Control Report For the Month Ended September 30 Actual Planning Results Budget Variances Litors of blood collected 800 Medical supplies $ 11,384 $ 9.240 $ 2.144 U Labtests 13,618 11.440 2,178 U Equipment depreciation 1.490 1.200 290 U Rent 1000 1.000 0 Uuties 284 250 34 U Administration 15.045 14 860 185 U Total expense $ 42,821 $ 37.990 $4,831 U 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 Medical supplies Labtests Equipment depreciation Rent Utilities Administration Cost Formulas $11.569 514300 $1.200 $1.000 $250 $1.709 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 Spending Variances Flexible Budget Activity Variances $ Medical supplies Labtests Equipment depreciation Rent Utilities Administration Total expense Actual Results $ 11,384 13618 1.490 1.000 284 15.045 $42.821 Planning Budget 9.240 11,440 1,200 1,000 250 14 060 $ 37.990