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 very busy month due to a powerful hurricane that hit neighboring Islands causing many tnjunes. 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 collected and processed over 20% more blood than had been originally planned for the month A report prepared by a government omctal 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 10 Actual Planning Results Budget Variances Liters of blood collected 560 Medical supplies 5.10,692 5,000 5 1,692U Lab tests 6.14 5, 2330 Equipment depreciation 4,585 4,200 385 U Rent 1,350 Utilities 1,025 1040 Administration 12, 434 575 0 Total expense $ 37,206 $ 14,017 $3,109 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 Cost Formulas Medical supplies $20.000 $13.200 Equipment depreciation 54;200 nent Utilities Administration 22 Lab tests $1,350 5925 $10,550 - $3.60 Required: 1. Complete the flexible budget performance report for September (Indicate the effect of each variance by selecting "F" for fovorable, "U" for unfavorable, and "None" for no effect (1.e. zero varlance), Input all amounts as positive values.) St. Lucia Blood Bank Flexible Budget Performance Report For the Month Ended September 30 Actual Results Liders of blood collected 560 Flexible Budget Planning Budget 440 Medical supplies Lab tests Equipment depreciation Rent Utilities Administration Total expense $ 10,692 6.041 4585 1.850 1029 13.009 $ 37 206 $ 8.800 5.808 4200 1 850 925 12434 534,017