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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
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
Sales $ $ $ $
Variable expenses
Contribution margin $ $ $ $
Fixed expenses
Net operating income $
Dollar sales to breakeven Fixed expensesCM ratio $ $
As shown by these data, net operating income is budgeted at $ for the month and the estimated breakeven sales is $
Assume that actual sales for the month total $ as planned; however, actual sales by product are: White, $; Fragrant, $; and Loonzain, $
Required:
Prepare a contribution format income statement for the month based on the actual sales data.
Compute the breakeven point in dollar sales for the month based on your actual data.
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