Gold Star Rice, Limited, of Thailand exports Thal 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: Dollar sales to break-even = Fixed expenses /CM ratio =$229,320/0.52=$441,000 As shown by these data, net operating income is budgeted at $124,280 for the month and the estimated break-even sales is $441,000. Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. 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. Prepare a contribution format income statement for the month based on the actual sales data. 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. Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) These sweatshints would have to be ordered from the manufacturer six weeks in advance, and they could not be returned because of the unique printing required. The sweatshirts would cost Hooper $23.00 each with a minimum order of 241 sweatshirts. Any additional sweatshirts would have to be ordered in increments of 241 . Since Hooper's plan would not require any additional facilities, the only costs associated with the project would be the costs of the sweatshirts and the costs of the sales commissions. The selling price of the sweatshirts would be $46.00 each. Hooper would pay the students a commission of $7.00 for each shirt sold. Required: 1. What level of unit sales and dollar sales is needed to attain a target profit of $15,424 ? 2. Assume that Hooper places an initial order for 241 sweatshirts. What is his break-even point in unit sales and dollar sales? (Round your intermediate calculations, round "Break-even point in unit sales" up to the nearest whole unit and round "Break-even point in dollar sales" to the nearest whole dollar.) 3. How many sweatshirts would Hooper need to sell to earn a target profit of $17,352 ? (Round final answer up to the nearest whole unit.)
