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Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice White , Fragrant, and Loonzain. Budgeted sales
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 Sales $ $ $ $ Variable expenses Contribution margin $ $ $ Fixed expenses Net operating income $ Dollar sales to breakeven Fixed expenses : CM ratio $: $ As shown by these data, net operating income is budgeted at $ for the month and the estimated breakeven sales is $ Assume actual sales for the month total $ as planned; however, actual sales by product are White, $; Fragrant, $; and Loonzain, $ Required: Prepare a contribution format income statement for the month based on the actual sales data. Compute the breakeven point in dollar sales for the month based on your actual data.
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
Sales $ $ $ $
Variable expenses
Contribution margin $ $ $
Fixed expenses
Net operating income $
Dollar sales to breakeven Fixed expenses : CM ratio $: $
As shown by these data, net operating income is budgeted at $ for the month and the estimated breakeven sales is $
Assume actual sales for the month total $ as planned; however, actual sales by product are White, $; Fragrant, $; and Loonzain, $
Required:
Prepare a contribution format income statement for the month based on the actual sales data.
Compute the breakeven point in dollar sales for the month based on your actual data.
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