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 32% Total 100% Sales Variable expenses $ 360,000 108,000 100% 30% $ 150,000 120,000 100% 80% $ 240,000 132,000 100% 55% $ 750,000 360,000 100% 48% $ 252,000 70% $ 30,000 20% $ 108,000 45% 528 Contribution margin Fixed expenses Net operating income 390,000 232,440 $ 157,560 Dollar sales to break-even = Fixed expenses / CM ratio = $232,440 / 0.52 = $447,000 As shown by these data, net operating income is budgeted at $157,560 for the month and the estimated break-even sales is $447,000. 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: 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. Gold Star Rice, Limited Contribution Income Statement