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Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice - White, Fragrant, and table [

Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and \table[[Gold Star Rice, Limited],[Contribution Income Statement],[,Product],[,White,,Fragrant,Loonzain,Total],[Percentage of total sales,,,%,,,,,%,,,,,%,,,,,%,,],[?,,,,,%,,,,,%,,,,,%,,,,,%],[,,,,,,%,,,,,%,,,,,%,,,,,%],[,,S,0,,0,%,$,0,,0,%,$,0,,0,%,,0,,0,%],[,,,,,,,,,,,,,,,,,,,,],[,,,,,,,,,,,,,,,,$,0,,,]]
Loonzain. Budgeted sales by product and in total for the coming month are shown below:
Dollar sales to break-even = Fixed expenses CM ratio =$227,7600.52=$438,000
As shown by these data, net operating income is budgeted at $162,240 for the month and the estimated break-even sales is
$438,000.
Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $240,000; Fragrant,
$300,000; and Loonzain, $210,000.
Required:
Prepare a contribution format income statement for the month based on the actual sales data.
Compute the break-even point in dollar sales for the month based on your actual data.
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