5 10 points eBook The Saint Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of Saint Lucia. The blood bank just finished its operations for September, which was a very busy month because a powerful hurricane caused many injuries on neighboring islands. The hurricane largely bypassed Saint Lucia, but residents of Saint Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected over 20% more blood than 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. Saint Lucia Blood Bank Cost Control Report For the Month Ended September 30 Hint Liters of blood collected Print Medical supplies Lab tests Equipment depreciation Rent Utilities Administration References Total expenses Actual Results 590 Planning Budget Variances 470 $ 7,473 $ 6,110 $ 1,363 U 5,071 4,888 183 U 3,115 2,800 315 U 1,150 1,150 0 651 11,689 575 11,184 76 U 505 U $ 29,149 $ 26,707 $ 2,442 U The managing director of the blood bank was very unhappy with the unfavorable variances in this report, claiming his costs were higher than expected due to the emergency on the neighboring islands. He also pointed out 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 figures had already been submitted by the blood bank to the government; he was just pointing out actual costs were a lot higher than promised in the budget. The following cost formulas were used to prepare the planning budget: Medical supplies Lab tests Equipment depreciation Rent Utilities Administration Required: Cost Formulas $13.00q $10.40q $2,800 $1,150 $575 $10,150 $2.20q 1. Complete the flexible budget performance report for September. Note: 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. Saint Lucia Blood Bank Flexible Budget Performance Report Actual Results For the Month Ended September 30 Revenue and Spending Variances Flexible Budget Activity Variances Planning Budget Liters of blood collected (q) 590 590 470 Medical supplies Lab tests Equipment depreciation Rent $ 7,473 U $ 6,110 5,071 U 4,888 3,115 315 U 2,800 2,800 1,150 0 None 1,150 0 None 1,150 Utilities Administration 651 11,689 76 U 575 575 บ U 11,184 Total expenses $ 29,149 U $ 26,707