Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below:

	Product
	White		Fragrant		Loonzain		Total
Percentage of total sales	48%		20%		32%		100%
Sales	$ 312,000	100%	$ 130,000	100%	$ 208,000	100%	$ 650,000	100%
Variable expenses	93,600	30%	104,000	80%	114,400	55%	312,000	48%
Contribution margin	$ 218,400	70%	$ 26,000	20%	$ 93,600	45%	338,000	52%
Fixed expenses							226,720
Net operating income							$ 111,280

Dollar sales to break-even = Fixed expenses / CM ratio = $226,720 / 0.52 = $436,000

As shown by these data, net operating income is budgeted at $111,280 for the month and the estimated break-even sales is $436,000.

Assume that actual sales for the month total $650,000 as planned; however, actual sales by product are: White, $208,000; Fragrant, $260,000; and Loonzain, $182,000.

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.