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 white 48% $ 336,000 100,800 $ 235,200 100% 30% 70% Fragrant 20% $ 140,000 112,000 $ 28,000 Product Loonzain 32% 100% $ 224,000 80% 123,200 20% $ 100,800 100% 55% 45% Total 100% $ 700,000 336,000 364,000 224,120 $ 139,880 100% 48% 52% 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 $139,880 for the month and the estimated break-even sales is $431,000. Assume that actual sales for the month total $700,000 as planned; however, actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000. 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