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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
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: Dollar sales to break-even = Fixed expenses CM ratio =$223,6000.52=$430,000 As shown by these data, net operating income is budgeted at $130,000 for the month and the estimated break-even sales is $430,000. Assume actual sales for the month total $680,000 as planned; however, actual sales by product are White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. 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. Prepare a contribution format income statement for the month based on the actual sales data. Compute the break-even point in dollar sales for the month based on your actual data. Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount
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