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 40 $ 321,600 06,480 $225,120 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100 Product Fragrant Loonzoin 20 % 32 $184,000 100 $ 214,400 100 107,200 80 x 117.920 55 5 26,800 20 $ 96,450 45 100 30 % 70 Total 100 $ 670,000 321,600 348,400 229,320 $ 119,080 52 Dollar sales to break-even Fixed expenses at ratio $229,220 0.52 - $441,000 As shown by these data, net operating income is budgeted at $119,080 for the month and the estimated break-even sales is $441.000 Assume that actual sales for the month total 5670,000 as planned, however, actual sales by product are: White S214.400; Fragrant, $268.000 and Loonzain, $187.600. 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 sales data. White Loonzain Total Gold Star Rice, Ltd Contribution Income Statement Product Fragrant % % % % 96 0% $ 0 0 % 5 Percentage of total sales 96 96 % % % sel 5 % 01% 0 0% $ 0 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 oven point in dollar sales Loonzain. Budgeted sales by product and in total for the coming month are shown below. White 48 % $ 321,600 96,480 $ 225, 120 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Fragrant 20 % $ 134,000 107. 200 $ 26,800 100 % 30 % 70 % 100 % Product Loonzain 32% 100 % $ 214,400 100 X 80 X 117,920 55 20 % $ 96,480 45 Total 100 $ 670,000 221.600 348,400 229,320 $ 119,080 52 % 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 $119,080 for the month and the estimated break-even sales is $441,000 Assume that actual sales for the month total $670,000 as planned, however, actual sales by product are White, $214,400, Fragrant. $268.000, and Loonzain. $187,600. 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) Break even point in dollar sales $268,000, and Loonzain, $187,600. 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 ed 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. Gold Star Rice, Lid Contribution Income Statement Product Fragrant White Loonzain Total % Percentage of total sales % % 0% 3 5 DS5 0 0% 0 % 5 0 Required 2 > Me (Graw
