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: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48 % $ 316,800 95,040 $ 221,760 100 % 30 % 70 % Product Fragrant Loonzain Total 20 % 32 % 100 % $ 132,000 100 % $ 211, 200 100 % $ 650,000 105,600 BOX 116, 160 55 % 316, 800 $ 26,400 20% $ 95,040 45 % 343,200 230, 360 $ 112,840 100 % 48 % 52 % Dollar sales to break-even Fixed expenses CM ratio $230, 360 0.52 = $443,000 As shown by these data, net operating income is budgeted at $112,840 for the month and the estimated break-even sales is $443,000. Assume that actual sales for the month total $660,000 as planned; however, actual sales by product are: White, $211.200; Fragrant, $264,000; and Loonzain, $184,800, 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. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data Total White % Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant % % 54 50 Loonzain % Percentage of total sales RE Net operating income $ 112,840 Dollar sales to break-even Fixed expenses CM ratio $230,360 0.52 $143,000 As shown by these data, net operating income is budgeted at $112,840 for the month and the estimated break-even sales is $443,000. Assume that actual sales for the month total $660,000 as planned; however, actual sales by product are: White, $211,200; Fragrant, $264,000; and Loonzain. $184,800. 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. Required: Required 2 Prepare a contribution format income statement for the month based on the actual soles data. Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant Percentage of total sales White Loonzain Total 96 % 96 % 56 % % Required 23 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. Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income white 48 % $ 316, 800 95, 040 $ 221,760 Product Fragrant Loonzain Total 20 % 32 % 100 % 100 % $ 132,000 100 % $ 211, 200 100 % $ 660,000 100 X 30 % 105,600 80% 116, 160 316,800 48 % 70 % $ 26,400 20% $ 95,040 45 % 343,200 52 x 239, 360 $ 112,840 55 % $230, 360 8.52 Fixed expenses Dollar sales to break-even = $443,000 CM ratio As shown by these data, net operating income is budgeted at $112,840 for the month and the estimated break even sales is $443,000. Assume that actual Sales for the month total $650,000 as planned; however, actual sales by product are: White, $211.200; Fragrant $264.000, and Loonzain. $184,800. 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. 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.) Broaktiver point in dollar sales
