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2008 36 64 Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, an Loonzain. Budgeted

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2008 36 64 Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, an Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product White Fragrant Loonzain Total Percentage of total sales 208 52 288 100% Sales $ 150,000 1001 $390,000 1000 $ 210,000 1000 $ 750,000 Variable expenses 108,000 728 78,000 208 84,000 401 270,000 Contribution margin $ 42,000 288 $ 312,000 809 $ 126,000 603 480,000 Pixed expenses 449,280 Net operating income $ 30,720 Dollar sales to break-even = Fixed expenses/CM ratio = $449,280 / 0.64 = $702,000 As shown by these data, net operating income is budgeted at $30,720 for the month and the estimated break-even sales is $702,000 Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $300,000; Fragrant, $180,000; and Loonzain, $270,000. 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. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice Limited Contribution Income Statement Product White Fragrant Loonzain Percentage of total sales % % % % Variable expenses % % Contribution margin 0 % 0 % 0 Fixed expenses Net operating income Total % % Sales % % % % $ 0 $ 0 $ 0 % 0 0 % $ 0 Rogu Required 2 > 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. (Do not round Intermediate calculations.) Break-even point in dollar sales

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