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. pped Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Not operating income white 488 $ 326,400 97.920 $ 229, 480 1000 Product Fragrant 200 $ 136,000 1008 100.800 800 $ 27,200 208 Loonzain 320 $ 217,600 1003 119,680 553 97, 920 455 1005 Book 705 Total 1008 $ 680.000 326,400 353, 600 232,440 $ 121, 160 525 rint rences Dollar sales to break-even Fixed expenses CM ratio S232,440 0.52 = $447.000 As shown by these data, net operating income is budgeted at $121,160 for the month and the estimated break-even sales is $447.000. Assume that actual sales for the month total $680,000 as planned. Actual sales by product are: White, $217,600; Fragrant, $272,000: and Loonzain. $190,400 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. Rend! Rared2 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. ipped Required 1 Required 2 Book Prepare a contribution format income statement for the month based on the actual sales data. Print rences Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant % White Percentage of total sales Loonzain Total % % % % $ 0 0 % $ % 0 0 % $ 0 0 % 0 0% $ 0 Required 2 > Variable expenses Contribution margin Pixed expenses Net operating income WAVE 97,920 $ 228, 480 ANUE 308 108,800 $ 27.200 w 119,690 97,920 808 203 700 556 458 AVVO 48+ 525 S 326,400 353, 600 232,440 $ 121, 160 ped Dollar sales to break-even Fixed expenses CM ratio $232,440 0.52 = $447,000 ook As shown by these data, net operating income is budgeted at $121.160 for the month and the estimated break-even sales is $447,000. Assume that actual sales for the month total $680,000 as planned. Actual sales by product are: White. $217,600; Fragrant, $272,000; and Loonzain. $190,400. 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. ences Complete this question by entering your answers in the tabs below. Required 1 Requed 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
