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 488 Fragrant 201 Loonzain 328 Total 100% $ 345,600 Variable expenses Contribution margin Fixed expenses Net operating income 103,680 $241,920 100% 30% 70% $144,000 115,200 $ 28,800 100% $ 230,400 80% 126,720 100 554 $ 720,000 345,600 100% 488 208 $103,680 458 374,400) 529 228,280 $146,120 Dollar sales to break-even Fixed expenses / CM ratio = $228,280/0.52 = $439,000 As shown by these data, net operating income is budgeted at $146,120 for the month and the estimated break-even sales is $439,000. Assume that actual sales for the month total $720,000 as planned; however, actual sales by product are: White, $230,400; Fragrant. $288,000; and Loonzain, $201,600. 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. < Prev 3 of 4 Music