12. value: 2.50 points Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-Fragrant, White, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Total Percentage of total sales Sales Variable expenses White 48% $ 307,200 92,160 Product Fragrant 20% $ 128,000 100% 102,400 80% Loonzain 32% $ 204,800 100% 112,640 55% 100% $ 640,000 307,200 100% 30% 70% 100% 48% 52% Contribution margin $ 215,040 $ 25,600 20% $ 92,160 45% 332,800 Fixed expenses 225,680 Net operating income $ 107,120 Dollar sales to break even - = Fixed expenses CM ratio $225,680 - = $434,000 0.52 As shown by these data, net operating income is budgeted at $107,120 for the month and break even sales at $434,000. Assume that actual sales for the month total $640,000 as planned. Actual sales by product are: White, $204,800; Fragrant, $256,000; and Loonzain, $179,200. 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 White Loonzain T otal Percentage of total 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