Gold Star Rice, Limited, of Thailand exports That 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: 48 525 Product White Fragrant Percentage of total sales Loonza in Total 2014 Sales 328 $ 331,200 100% 1004 $ 138,000 1001 220,300 100 $ 690,000 1005 Variable expenses 99,360 305 110,400 80 121,440 555 331,200 489 Contribution margin $ 231,840 70 $ 27,600 205 $ 99,360 454 358,800 Fixed expenses 224,640 Net operating income $ 134,160 Dollar sales to break-even - Fixed expenses / CM ratio - $224,640/0,52 - $432,000 As shown by these data, net operating income is budgeted at $134 160 for the month and the estimated break-even sales is $432,000 Assume that actual sales for the month total $690,000 as planned; however, actual sales by product are: White, $220,800; Fragrant. $276,000, and Loonzain, $193.200. 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