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	$ 340,800	100%	$ 142,000	100%	$ 227,200	100%	$ 710,000	100%
Variable expenses	102,240	30%	113,600	80%	124,960	55%	340,800	48%
Contribution margin	$ 238,560	70%	$ 28,400	20%	$ 102,240	45%	369,200	52%
Fixed expenses							231,920
Net operating income							$ 137,280

Dollar sales to break-even = Fixed expenses CM ratio = $231,920 0.52 = $446,000

As shown by these data, net operating income is budgeted at $137,280 for the month and the estimated break-even sales is $446,000.

Assume actual sales for the month total $710,000 as planned; however, actual sales by product are White, $227,200; Fragrant, $284,000; and Loonzain, $198,800.

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.