6-21 (Algo) Sales Mix; Multiproduct Break-Even Analysis [LO6-9] 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: Percentage of total sales Sales White 48% Product Fragrant 20% Loonzain 32% Total 100% Variable expenses $ 379,200 113,760 100% 30% $ 158,000 126,400 100% 80% $ 252,800 139,040 100% 55% Contribution margin Fixed expenses Net operating income $ 265,440 70% $ 31,600 20% $ 113,760 45% $ 790,000 379,200 $ 410,800 100% 48% 52% 230,880 $ 179,920 Dollar sales to break-even = Fixed expenses/CM ratio = $230,880/0.52 = $444,000 As shown by these data, net operating income is budgeted at $179,920 for the month and the estimated break-even sales is $444,000. Assume that actual sales for the month total $790,000 as planned; however, actual sales by product are: White, $252,800; Fragrant, $316,000; and Loonzain, $221,200. 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