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:

	Product
	White		Fragrant		Loonzain		Total
Percentage of total sales	48%		20%		32%		100%
Sales	$ 331,200	100%	$ 138,000	100%	$ 220,800	100%	$ 690,000	100%
Variable expenses	99,360	30%	110,400	80%	121,440	55%	331,200	48%
Contribution margin	$ 231,840	70%	$ 27,600	20%	$ 99,360	45%	358,800	52%
Fixed expenses							224,120
Net operating income							$ 134,680

Dollar sales to break-even = Fixed expenses / CM ratio = $224,120 / 0.52 = $431,000

As shown by these data, net operating income is budgeted at $134,680 for the month and the estimated break-even sales is $431,000.

Assume that actual sales for the month total $690,000 as planned; however, actual sales by product are: White, $220,800; Fragrant, $276,000; and Loonzain, $193,200.

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.

*PLEASE SHOW HOW YOU GOT YOUR CALCULATIONS***

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 Product White Fragrant Loonzain Total Percentage of total sales % % % % % % % % % % % $ 0 0 % $ O 0 % $ 0 0 % 0 0 % O 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 Net operating income White 48% $ 331,200 99,360 $ 231,840 100% 30% 70% Product Fragrant Loonzain 20% 32% $ 138,000 100% $ 220, 800 100% 110,400 80% 121,440 55% $ 27,600 20% $ 99,360 45% Total 100% $ 690,000 331,200 358,800 224,120 $ 134, 680 100% 48% 52% Dollar sales to break-even = Fixed expenses / CM ratio = $224,120 / 0.52 = $431,000 As shown by these data, net operating income is budgeted at $134,680 for the month and the estimated break-even sales is $431,000. Assume that actual sales for the month total $690,000 as planned; however, actual sales by product are: White, $220,800; Fragrant, $276,000; and Loonzain, $193,200. 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 Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales