Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

203 40 Gold Star Rice, Limited, of Thailand exports Thalnice throughout Asia. The company grows tvee varieties of rice-Write Frage, and Loontain, Budgeted sales by

image text in transcribed
203 40 Gold Star Rice, Limited, of Thailand exports Thalnice throughout Asia. The company grows tvee varieties of rice-Write Frage, and Loontain, Budgeted sales by product and in total for the coming month are shown below. Product white Fragrant Loontain Total Percentage of total sales 48% Sales 100 $ 384,000 100% $ 150,000 100 $ 255,000 100% S.500.000 100 variable expenses 115.200 JON 128,000 BOX 140,000 55 2384,000 Contribution margin 5.268,500 $ 32,000 2015 115,200 452 411,000 Fixed expenses 222/240 Net operating income $ 158,706 Dollar sales to break-even = Fixed expenses/CM ratio = $227.240/0.52 - $437000 As shown by these dato, net operating income is budgeted at $188,760 for the month and the estimated break-even sales is 5437000 Assume that actual sales for the month total $800,000 as plannect: however, actual sales by product are: White. $256.000: Fragrant. $320,000, and Loonzain, $224,000. 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For Decision Makers

Authors: DeFond, Mark

3rd Edition

1618534432, 9781618534439

More Books

Students also viewed these Accounting questions

Question

2. Avoid controlling language, should, must, have to.

Answered: 1 week ago