Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Gold 5 tar Rice. Limited, of Thoilond exports Thai nice throughout Asia. The company grows three variebes of tice--White, Fregrant and Loonzain. Budgeted sales by

image text in transcribed
image text in transcribed
image text in transcribed
Gold 5 tar Rice. Limited, of Thoilond exports Thai nice throughout Asia. The company grows three variebes of tice--White, Fregrant and Loonzain. Budgeted sales by product and in total for the coming month are shown below. Dollar sales to break-even = Fund expenses /CM ratio =$231,400/052$445,000 As shown by these dota, net operating income is, budgeted at $101,400 for the month and the estimoted break-awen sales is $445,000 Assume that actual soles for the month total $640.000 as planned; howover, actual sales by product are: White, $204 a00, Fragrant. \$266.000, and Loonzain, $179.200 Hequired: 1. Prepore a controubon formot income statement for the month based on the actuel sales data. 2. Compute the breakieven point in doltar sales for the month based on your actuol date Coapplete this question by entering your answers in the tabs below. Prepare a contintution format income statement for the month tased on the actual sales data. 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. Prepare a contribution format income statement for the month based on the actual sales data. Dollar sales to break-even = Fixed expenses /CM ratio =$231,400/0.52=$445,000 As shown by these data, net operating income is budgeted at $101,400 for the month and the estimated break-even 5ale5 is $445,000 Assume that actual sales for the month total $640,000 as planned; however, actual sales by product are: White, $204,800, Fragrant, $256,000; and Loonzain, $179,200 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. Complete this question by entering your answers in the tabs below. 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.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions