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 White 48% Fragrant 20% Loonzain 328 Total 100% Sales $ 379,200 Variable expenses Contribution margin 113,760 $ 265,440 100% 30% $ 158,000 126,400 100% 80% $ 252,800 139,040 100% 55% $ 790,000 379,200 100% 48% 70% $ 31,600 20% $ 113,760 45% Fixed expenses 410,800 229,840 52% Net operating income $ 180,960 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 $180,960 for the month and the estimated break-even sales is $442,000. Assume that actual sales for the month total $790,000 as planned; however, actual sales by product are: White, $252,800; Fragrant, $316,000; and Loonzain, $221,200. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Limited Contribution Income Statement Product White Percentage of total sales % Fragrant % Loonzain Total % % % % % % % % % % $ 0 0% $ 0 0% $ 0 0% 0 0% $ 0 < Required 1 Required 2 > Percentage of total sales Sales Variable expenses $ 379,200 113,760 Contribution margin Fixed expenses Net operating income White 48% Fragrant 20% Loonzain 328 Total 100% 100% 30% $ 158,000 100% $ 252,800 126,400 80% 139,040 100% 55% $ 790,000 100% 379,200 48% $ 265,440 70% $ 31,600 20% $ 113,760 45% 410,800 52% 229,840 $ 180,960 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 $180,960 for the month and the estimated break-even sales is $442,000. Assume that actual sales for the month total $790,000 as planned; however, actual sales by product are: White, $252,800; Fragrant, $316,000; and Loonzain, $221,200. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales < Required 1 Required 2 >