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						Total
	White		Fragrant		Loonzain
Percentage of total sales	48%		20%		32%		100%
Sales	$ 364,800	100%	$ 152,000	100%	$ 243,200	100%	$ 760,000	100%
Variable expenses	109,440	30%	121,600	80%	133,760	55%	364,800	48%
Contribution margin	$ 255,360	70%	$ 30,400	20%	$ 109,440	45%	$ 395,200	52%
Fixed expenses							224,120
Net operating income							$ 171,080

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 $171,080 for the month and the estimated break-even sales is $431,000.

Assume that actual sales for the month total $760,000 as planned; however, actual sales by product are: White, $243,200; Fragrant, $304,000; and Loonzain, $212,800.

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.

Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varleties 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 = Flxed expenses /CM ratio =$224,120/0.52=$431,000 As shown by these data, net operating income is budgeted at $171,080 for the month and the estimated break-even sales is $431,000. Assume that actual sales for the month total $760,000 as planned; however, actual sales by product are: White, $243,200; Fragrant, $304,000; and Loonzain, $212,800. 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. Complete this question by entering your answers in the tabs below. 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.)