Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed 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: Net operating income $15y,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 $159,640 for the month and the estimated break-even sales is $433,000. Assume that actual sales for the month total $740,000 as planned; however, actual sales by product are: White, $236,800; Fragrant, $296,000; and Loonzain, \$207,200. 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Clinical Audit In Mental Health Toward A Multidisciplinary Approach

Authors: John Riordan, Darren Mockler

1st Edition

0471963321, 978-0471963325

More Books

Students also viewed these Accounting questions