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 324 Total 100% Variable expenses $ 326,400 97,920 100% 30% $136,000 108,800 100% 80% $ 217,600 119,680 100% 55% $ 680,000 326,400 100% 48% Contribution margin Fixed expenses Net operating income $ 228,480. 70% $ 27,200 20% $ 97,920 459 353,600 52 224,640 $ 128,960 Dollar sales to break-even Fixed expenses / CM ratio = $224,640/0.52 $432,000 As shown by these data, net operating income is budgeted at $128,960 for the month and the estimated break-even sales is $432,000. Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 19 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Limited Contribution Income Statement Product White Fragrant Loonzain Percentage of total sales % % % % % % % 4% % % % % Total % % % %