gold star ltd of thailand exports

Gold Star 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: White Loonzain Percentage of total sales Sales Variable expenses 32% Product Fragrant 20% $ 122,000 100% 97,600 80% 48% $ 292,800 87,840 100% 30% $ 195,200 107,360 100% 55% Total 100% $ 610,000 292,800 100% 48% Contribution margin $ 204,960 70% $ 24,400 20% $ 87,840 45% 317,200 52% Fixed expenses 225,160 Net operating income $ 92,040 Dollar sales to break even =- Fixed expenses CM ratio $225,160 0.52 - = $433,000 As shown by these data, net operating income is budgeted at $92,040 for the month and break even sales at $433,000. Assume that actual sales for the month total $610,000 as planned. Actual sales by product are: White, $195,200; Fragrant, $244,000, and Loonzain, $170,800. Required: 1. Prepare a contribution format income statement for the month based on actual sales data. Required: 1. Prepare a contribution format income statement for the month based on actual sales data. Gold Star Rice, Ltd. Contribution Income Statement Product White Fragrant Loonzain Percentage of total $ 0 0% $ 0 % 2. Compute the break-even point in dollar sales for the month based on your actual data (Round your answer to nearest whole dollar.) Break-even point in sales dollars