3 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: 25 points White 48% $ 336,000 100,800 $ 235, 200 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100% 308 70% Fragrant 20% $ 140,000 112,000 $ 28,000 Product Loonzain 32% 100% $ 224,000 808 123,200 20$ $ 100,800 100% 558 45 eBook Total 100% $ 700,000 336,000 364,000 227, 240 $ 136, 760 100% 48% 52% Print References Dollar sales to break-even = Fixed expenses / CM ratio = $227,240 / 0.52 = $437,000 As shown by these data, net operating income is budgeted at $136,760 for the month and the estimated break-even sales is $437,000. Assume that actual sales for the month total $700,000 as planned; however, actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000. 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 ----------...--...---I-------I------LE-IL-----ILL------LL---L.-I--I---- -ET- 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 Total Percentage of total sales % % % % % % % % % % % % $ 0 0 % $ 0 0 % $ 0 0 % 0 0 % $ 0 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. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales