Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: White 48% $ 360,000 108,000 $ 252,000 100% 30% Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Fragrant 20% $ 150,000 120,000 $ 30,000 Product Loonzain 32% 100% $ 240,000 100% 80% 132,000 55% 20% $ 108,000 45% 100% 48% Total 100% $ 750,000 360,000 390,000 233,480 $ 156,520 70% 52% Dollar sales to break-even = Fixed expenses / CM ratio = $233,480 / 0.52 = $449,000 = = As shown by these data, net operating income is budgeted at $156,520 for the month and the estimated break-even sales is $449,000. Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $240,000; Fragrant, $300,000; and Loonzain, $210,000. 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