Chapter 5 Homework Problems 10 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. 043323 P 19 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Het operating Incone Product white 20% fragrant 52% Loonzain 20% Total 100% $150,000 108,000 72% $ 42,000 285 $350,000 78,000 $312,000 100% 5 210,000 100% $750,000 100 20% 84,000 $126,000 40% 270,000 368 60% 480,000 64% 449,280 $30,720 Dollar sales to break-even Fixed expenses/CM ratio $449,280/0.64 $702.000 As shown by these data, net operating income is budgeted at $30720 for the month and the estimated break-even sales is $702.000. Assume that actual sales for the month total $750,000 as planned, however, actual sales by product are: White, $300,000; Fragrant $180.000, and Loonzain, $270,000 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 Squid 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rica, Limited Contrution Income Statement Product Help Save & E Che