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	$ 360,000	100%	$ 150,000	100%	$ 240,000	100%	$ 750,000	100%
Variable expenses	108,000	30%	120,000	80%	132,000	55%	360,000	48%
Contribution margin	$ 252,000	70%	$ 30,000	20%	$ 108,000	45%	$ 390,000	52%
Fixed expenses							227,240
Net operating income							$ 162,760

Dollar sales to break-even = Fixed expenses/CM ratio = $227,240/0.52 = $437,000

As shown by these data, net operating income is budgeted at $162,760 for the month and the estimated break-even sales is $437,000.

Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $240,000; Fragrant, $300,000; and Loonzain, $210,000.

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.