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Gold Star Rice, Ltd., 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: White 48% $ 336,000 100,800 $ 235, 200 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100% 30 708 Product Fragrant Loonzain 208 32 $ 140,000 100 % $ 224,000 100% 112,000 80 123,200 55 $ 28,000 20% $ 100,800 45 100% 48 % Total 100 % $ 700,000 336,000 364,000 227,760 $ 136,240 52 Dollar sales to break-even Fixed expenses CM ratio $227,760 0.52 = $438,000 As shown by these data, net operating income is budgeted at $136,240 for the month and the estimated break-even sales is $438,000. Assume that actual sales for the month total $700,000 as planned; however, actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000. 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. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant % White Loonzain Total Percentage of total sales % % % % %6 % % % % % $ 0 0 % $ 0 0 % $ 0 0 % 0 0 % $ 0 Required 1 Required 2 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.) Break-even point in dollar sales Lindon Company is the exclusive distributor for an automotive product that sells for $28.00 per unit and has a CM ratio of 30%. The company's fixed expenses are $147,000 per year. The company plans to sell 19,500 units this year. Required: 1. What are the variable expenses per unit? (Round your "per unit" answer to 2 decimal places.) 2. What is the break-even point in unit sales and in dollar sales? 3. What amount of unit sales and dollar sales is required to attain a target profit of $63,000 per year? 4. Assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $2.80 per unit. What is the company's new break-even point in unit sales and in dollar sales? What dollar sales is required to attain a target profit of $63,000? 1. Variable expense per unit 2. Break-even point in units Break-even point in dollar sales 3. Unit sales needed to attain target profit Dollar sales needed to attain target profit 4. New break-even point in unit sales New break-even point in dollar sales Dollar sales needed to attain target profit