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

Dollar sales to break$-$even $=$ Fixed expenses $CM$ ratio $=$$$232,9600\mathrm{.}52=$$$448,000$

As shown by these data, net operating income is budgeted at $$141,440$ for the month and the estimated break$-$even sales is $$448,000.$

Assume actual sales for the month total $$720,000$ as planned; however, actual sales by product are White, $$230,400$; Fragrant,

$$288,000$; and Loonzain, $$201,600.$

Required:

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.

Complete this question by entering your answers in the tabs below.

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Prepare a contribution format income statement for the month based on the actual sales data.