10 points Skipped eBook Print References Gold Star Rice, Limited, 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: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48% $364,800 109,440 $ 255,360 Fragrant 20% 100% $ 152,000 30% 121,600 70% $ 30,400 Product 100% 80% 20% Loonzain 32% $ 243,200 133,760 $ 109,440 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. Total 100% 100% $760,000 55% 364,800 395, 200 224, 120 $ 171,080 45% 100% 48% 52% Dollar sales to break-even = Fixed expenses / CM ratio = $224,120 / 0.52 = $431,000 As shown by these data, net operating income is budgeted at $171,080 for the month and the estimated break-even sales is $431,000. Assume that actual sales for the month total $760,000 as planned; however, actual sales by product are: White, $243,200; Fragrant, $304,000; and Loonzain, $212,800.

Gold Star Rice, Limited, of Thailand exports Thai fice throughou 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: Dollar sales to break-even - Fixed expenses / CM ratio $224,120/052=$431,000 As shown by these data, net operating income is budgeted at $17,000 for the month and the estimated break-even sales is $431,000 Assume that actual sales for the month total $760,000 as planned, howeved, actual sales by product are: White, $243,200; Fragrant, $304000; and Loonzain, $212,800. $304,000; and Loonzain, $212,800. 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