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	$ 292,800	100%	$ 122,000	100%	$ 195,200	100%	$ 610,000	100%
Variable expenses	87,840	30%	97,600	80%	107,360	55%	292,800	48%
Contribution margin	$ 204,960	70%	$ 24,400	20%	$ 87,840	45%	317,200	52%
Fixed expenses							226,200
Net operating income							$ 91,000

Dollar sales to break-even = Fixed expenses / CM ratio = $226,200 / 0.52 = $435,000

As shown by these data, net operating income is budgeted at $91,000 for the month and the estimated break-even sales is $435,000.

Assume that actual sales for the month total $610,000 as planned; however, 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 the actual sales data.

2. Compute the break-even point in dollar sales for the month based on your actual data.