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 $ 336,000 100,800 100% 30% $ 140,000 112,000 100% 80% $ 224,000 123,200 100% 55% $ 700,000 336,000 100% 48% $ 235,200 70% $ 28,000 20% $ 100,800 45% 364,000 528 Contribution margin Fixed expenses Net operating income 232,440 $ 131,560 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 $131,560 for the month and the estimated break-even sales is $447,000. Assume that actual sales for the month total $700,000 as planned; however, actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000. 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 Product White Fragrant Loonzain Total Percentage of total sales % % % % % % % % % % % $ 0 0% $ 0 0% $ 0 0% 0 0% $ 0 < Required 1 Required 2 >