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: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Product White 48% Fragrant 20% Loonzain 32% Total 100% $ 336,000 100,800 100% 30% $ 140,000 112,000 $ 235,200 70% $ 28,000 100% $ 224,000 80% 123,200 20% $ 100,800 100% 55% $ 700,000 100% 336,000 48% 45% 364,000 226,200 52% $ 137,800 Dollar sales to break-even = Fixed expenses/CM ratio = $226,200/0.52 = $435,000 As shown by these data, net operating income is budgeted at $137,800 for the month and the estimated break-even sales is $435,000. 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. 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 % % % % 96 96 % % % % % 96 $ 0 0% $ 0 0% $ 0 0% 0 0% Required 1 Required 2 $ 0 < 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 >