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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 by product

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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 by product and in total for the coming month are shown below: Percentage total sales Sales Variable expenses Coptribution margin Fixed expenses Net operating income White 203 $ 150,000 108,000 $ 42,000 100% 728 288 Product Fragrant Loonzain 528 288 $ 390,000 1008 $ 210,000 10 78,000 208 84,000 4 $ 312,000 808 $ 126,000 6 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 $702,000. Assume that actual sales for the month total $750,000 as planned; however actual sales by product are: White, $300,000; Fragrant, $180,000; and Loonzain, $270,000. 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, 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 Gold Stay Contribution come Statement Product White Total Fragrant % Loonzain % % % % % % % % % Raquired Required 2 > 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 $702,000. Assume that actual sales for the month total $750,000 as planned; how Product are: White, $300,000; Fragrant, $180,000; and Loonzain, $270,000 Required: 1. Prepare a contribution format income statement for the more 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 enter your apswers in the tabs below. Required 1 Required 2 Compute the break-even point in allar sales for the month based on your actual data (Do not round intermediate calculations.) Break-even point in dollar salos

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