1 Gold Star Rice, Ltd, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White. Fragrant, and Loonzain Budgeted sales by product and in total for the coming month are shown below: Product 10 points Print Variable expenses Contribution margin i Fixed expenses Net operating income Percentage of total sales Sales White 48% Fragrant 20% Loonzain 32% Total 100% $ 336,000 100,800 $ 235,200 100% $140,000 100% 30% 112,000 70% 5 28,000 80% $224,000 123,200 20 % $ 100,800 100 % $ 700,000 55% 100% 336,000 48% 45% 364,000 52% 226,720 $ 137,280 References Dollar sales to break-even Fixed expenses CH ratio $226,720 0.52 - $436,000 As shown by these data, net operating income is budgeted at $137,280 for the month and the estimated break-even sales is $436,000. Assume that actual sales for the month total $700,000 as planned. Actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000 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 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 Fragrant % White Loonzain Total Percentage of total sales % % % % % % % % % % 96 $ 0 0% $ 0% $ 0 0% 0 0% $ 0 Gold Star Rice, Ltd. of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain Budgeted sales by product and in total for the coming month are shown below. Product Percentage of total sales White 48% Fragrant 20x Loonzain 32% Total 100% Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 336,000 100,000 100% 30% $ 235,200 $140,000 100% 5 224,000 112,000 123,200 70 % $ 28,000 20% $ 100,800 80% 100% 55% $ 700,000 336,000 100% 48% 45% 364,000 52% 226,720 $ 137,280 Dollar sales to break-even Fixed expenses CH ratio $226,720 0.52 - $436,000 As shown by these data, net operating income is budgeted at $137.280 for the month and the estimated break-even sales is $436,000. Assume that actual sales for the month total $700,000 as planned. Actual sales by product are: White, $224,000, Fragrant, $280,000, and Loonzain. $196,000. 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. Fixed expenses Net operating income Dollar sales to break-even Fixed expenses CH ratio $226,720 0.52 - $436,000 $ 137,280 As shown by these data, net operating income is budgeted at $137,280 for the month and the estimated break-even sales is $436,000. Assume that actual sales for the month total $700,000 as planned. Actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000. 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 Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales < Required 1 Required 2 >