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: Product Percentage of total sales Sales White 48% Fragrant 20% Loonzain 32% Total 100% Variable expenses $ 312,000 93,600 100% $ 130,000 30% 104,000 100% 80% $208,000 114,400 100% $650,000 55% 312,000 100% 48% Contribution margin Fixed expenses Net operating income $ 218,400 70% $ 26,000 20% $ 93,600 45% 338,000 52% 230,360 $ 107,640 Dollar sales to break-even Fixed expenses/CM ratio = $230,360/0.52 = $443,000 As shown by these data, net operating income is budgeted at $107,640 for the month and the estimated break-even sales is $443,000 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. Complete this question by entering your answers in the tabs below. w COINDHOG Complete this question by entering you the 3 N W E R x D F G H 0 > Se 9 B N M taping P Alt Ctri 00 IHOND Asome Paal $200000 S Z x R G B N M C