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 Loonzain 32% White 48% $369,600 110,880 $ 258, 720 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating Income 100% 3x 7806 Fragrant 20% $ 154,000 123,200 $ 30,880 100X 80X 20% $ 246,400 135,520 $ 110,880 100% 55% 45% Total 100% $ 770,000 369,600 400,400 232,960 $ 167,440 100% 48% 52% Dollar sales to break-even=Fixed expenses/CM ratio - $232,960/0.52 - $448.000 As shown by these data, net operating income is budgeted at $167,440 for the month and the estimated break-even sales is $448,000. Assume that actual sales for the month total $770,000 as planned; however, actual sales by product are: White, $246,400, Fragrant. $308,000, and Loonzain, $215,600. 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