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Gold Slat Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-Fragrant, White, and Loonzain. Budgeted sales by product

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Gold Slat Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-Fragrant, White, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: 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 $30, 720 for the month and break even sales at $702.000. Assume that actual sates for the month total $750,000 as planned. Actual sales by product are White $300.000. Fragrant $180,000 and Loonzain $270,000. Prepare a contribution format Income statement for the month based on actual sales data

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