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: Product Percentage of total sales Sales White 48% Fragrant 20% Loonzain 32% Total 100% Variable expenses $ 292,800 87,840 100% 30% $ 122,000 97,600 100% 80% $ 195,200 107,360 100% 55% $ 610,000 100% 292,800 48% Contribution margin Fixed expenses Net operating income Dollar sales to break-even = Fixed expenses / CM ratio = $232,960 / 0.52 = $448,000 $ 204,960 70% $ 24,400 20% $ 87,840 45% 317,200 52% 232,960 $ 84,240 As shown by these data, net operating income is budgeted at $84,240 for the month and the estimated break-even sales is $448,000. Assume that actual sales for the month total $610,000 as planned; however, actual sales by product are: White, $195,200; Fragrant, $244,000; and Loonzain, $170,800. 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. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Limited Contribution Income Statement Product White Percentage of total sales Sales % Fragrant % Loonzain Total % % % % % % Variable expenses % % % % Contribution margin $ 0 0% $ 0 0% $ 0 0% 0 0% Fixed expenses Net operating income $ 0