4 Gold Star Rice, Ltd., 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: 10 points Product White 48 % Fragrant 20 % Loonzain 32 % Total 100 % Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $288,000 86,400 s 201,600 100% 48 % 52 % 100% $600,000 100% $120,000 96,000 100% $192,000 105.600 288.000 312,000 231,920 $80,080 30 % 80 % 55 % 45 % eBook 70% $ 24,000 20% $ 86,400 Print References Fixed expenses CM ratio $231,920 0.52 Dollar sales to break-even = $446,000 As shown by these data, net operating income is budgeted at $80,080 for the month and the estimated break-even sales is $446,000 Assume that actual sales for the month total $600,000 as planned. Actual sales by product are: White, $192,000; Fragrant, $240,000; and Loonzain, $168,000 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