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As shown by these data, net operating income is budgeted at $138,840 for the month and the estimated break-even sales is $443,000. Assume that actual
As shown by these data, net operating income is budgeted at $138,840 for the month and the estimated break-even sales is $443,000. Assume that actual sales for the month total $710,000 as planned. Actual sales by product are: White, $227,200; Fragrant, $284,000, and Loonzain, $198,800. 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. Gold Star Rice, Ltd. Contribution Income Statement Product White Fragrant Loonzain Total Percentage of total sales $ 138,840 Net operating income Dollar sales to break-even -Fixed expenses CM ratio $230,360 0.52 As shown by these data, net operating income is budgeted at $138,840 for the month and the estimated break-even sales is $443,000. Assume that actual sales for the month total $710,000 as planned. Actual sales by product are: White, $227,200; Fragrant, $284,000, and Loonzain. $198,800. 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. (Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales
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