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: Percentage of total sales Sales Variable expenses Contribution margin White 48% $ 326,400 97,920 $ 228,480 100% 30% 70% Product Fragrant 20% $ 136,000 108,800 $ 27,200 100% 80% 20% Loonzain 32% $ 217,600 119,680 $ 97,920 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. 100% 55% 45% Fixed expenses Net operating income Dollar sales to break-even = Fixed expenses/CM ratio = $229,840/0.52 = $442,000 As shown by these data, net operating income is budgeted at $123,760 for the month and the estimated break-even sales is $442,000. Total 100% $ 680,000 326,400 $ 353,600 229,840 $ 123,760 Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. 100% 48% 52%

Gold Star Rice, Limited, of Thaland 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: Dollar sales to break-even = Fixed expenses /CM ratio =$229,840/0.52=$442,000 As shown by these data, net operating income is budgeted at $123,760 for the month and the estimated break-even sales is $442,000 Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, \$190,400. 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 dota