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12 Gold Star Rio, Lid, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-Fragrant, White, and Loorzain. Budgeted sales by
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Gold Star Rio, Lid, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-Fragrant, White, and Loorzain. Budgeted sales by product and in total for the coming month are shown below: Product Percentage of total sales Sales Variable expenses White 48% $ 350.400 105 120 Fragrant 20% 146.000 1001 116.800 80% 100% 30% Loonvain 1296 $233.000 100% 128,480 55% Total 100% $730.000 350 400 100% 48% Contribution margin $ 245,280 70% $ 29,200 20% $ 105,120 45% 379,600 52% Fixed expenses 228,280 Net operating income $ 151,320 Fixed expenses Dolar sales to break even - $228,280 $430,000 000 As shown by these data, net operating income is budgeted at 5151,320 for the month and break even sales at $430,000 Assume that actual sales for the month total 5730,000 as planned. Actual sales by product are: White 5233,600Fragrant, 5292,000, and Loonzain, $204,400 Required 1. Prepare a contribution format income statement for the month based on actual sales data Gold Star Rice, Ltd Contribution Income Statement Product Fragrant 2. Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to nearest whole dollar.) Break-even point in sales dollars Step by Step Solution
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