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 Product White 48% Fragrant 20% Loonzain 32% Total 100% $297,600 89,280 $208,320 100% 30% $124,000 99,200 100% 80% $ 198,400 109,120 100% $620,000 100% 55% 297,600 48% 70% $ 24,800 20% $ 89,280 45% 322,400 52% 229,840 $92,500 Net operating income ences Dollar sales to break-even Fixed expenses / CM ratio $229,840/0.52 - $442.000 As shown by these data, net operating income is budgeted at $92,560 for the month and the estimated break-even sales is $442,000. Assume that actual sales for the month total $620,000 as planned; however, actual sales by product are: White, $198,400. Fragrant, $248,000, and Loonzain, $173,600 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 Check my work