Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, Loonzain. Budgeted sales by product and in total for the coming month are shown below: White 20% $ 150,000 108,000 $ 42,000 100% 72% Fragrant 52% $ 390,000 78,000 $ 312,000 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Product Loonzain 28% 100% $ 210,000 20% 84,000 80% $ 126,000 1 100% 40% Total 100% $ 750,000 270,000 480,000 449, 280 $ 30,720 28% 60% 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, Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $300,000; Fragra $180,000; and Loonzain, $270,000. Required: Prepare a contribution format income statement for the month based on the actual sales data Prey 3 of 5 BOL 1 Next > Check my wc 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 Product White Fragrant Loonzain Total % % Percentage of total sales Sales % 100% $ 300,000 % $ 180,000 % $ 270,000 % % % Variable expenses % % % % Contribution margin $ 300,000 0 % $ 180,000 0 % $ 270,000 0 % 0 0 % Fixed expenses Net operating loss $ 0 Required 2 > 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 tabe below. Compute the break even point in dollar sales for the month based on your actual data. (De not reund intermediate Treal aan pinnalar sales Required 1