00 Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: 0.9 points Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 8 02-18:29 White 48 % $ 345,600 103,680 $ 241,920 Product Fragrant Loonzain 20 % 32% $ 144,000 100 % $ 230,400 115,200 80 % 126,720 $ 28,800 20 % $ 103,680 100 % 30 % 70 % Total 100 % 100 % $ 720,000 55 % 345,600 45 % 374,400 229,320 $ 145,080 100 % 48 % 52 % eBook Dollar sales to break-even Fixed expenses CM ratio $229,320 0.52 = $441,000 Print As shown by these data, net operating income is budgeted at $145,080 for the month and the estimated break-even sales is $441,000. References Assume that actual sales for the month total $720,000 as planned; however, actual sales by product are: White, $230,400; Fragrant, $288,000; and Loonzain, $201,600. Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Ltd. Contribution Income Statement Product White Loonzain Fragrant 201% Total 100% % 321 % $ 230,400 % % % % % Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income % 0 % $ % 0 % % 0 % $ 230,400 0 $ 0 0 0 % $ 0