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 Fragrant 20 Loonzain 321 Total 100% Variable expenses Contribution margin Fixed expenses Net operating income $ 326,400 97,920 $228,480 100% $136,000 30% 108,800 100% $217,600 119,680 100% 551 $ 600,000 326,400 100 70% $27,200 20 $ 99,920 454 353,600 526 227.760 $125,840 Dollar sales to break-even - Fixed expenses/CM ratio = $227,760/0.52 $438.000 As shown by these data, net operating income is budgeted at $125,840 for the month and the estimated break-even sales is $438,000. Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600, Fragrant, $272,000, and Loonzain, $190,400. 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