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 20% Fragrant 52% Loonzain 28% Total 100% Sales $ 150,000 Variable expenses 108,000 100% 72% Contribution margin Fixed expenses Net operating income $ 42,000 $ 390,000 78,000 28% $ 312,000 100% 20% 80% $ 210,000 84,000 100% 40% $ 750,000 270,000 100% 36% $ 126,000 60% 480,000 449,280 64% $ 30,720 Dollar sales to break-even = Fixed expenses / CM ratio = $449,280 / 0.64 = $702,000 As shown by these data, net operating income is budgeted at $30,720 for the month and the estimated break-even sales is $702,000. Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $300,000; Fragrant, $180,000; and Loonzain, $270,000. 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.