Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, 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 % $ 384,000 115,200 $ 268,800 Fragrant 20 % 100 % $ 160,000 30 % 128,000 70% $ 32,000 Product Loonzain 32% 100 % $ 256,000 80 % 140,800 20 % $ 115,200 100 % 55 % 45 % Total 100 % $ 800,000 384,000 416,000 225,160 $ 190,840 100 % 48 % 52 % Dollar sales to break-even Fixed expenses CM ratio $225,160 0.52 = $433,000 As shown by these data, net operating income is budgeted at $190,840 for the month and the estimated break-even sales is $433,000. Assume that actual sales for the month total $800,000 as planned. Actual sales by product are: White, $256,000; Fragrant, $320,000; and Loonzain, $224,000. 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. 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. Gold Star Rice, Ltd. Contribution Income Statement Product White Fragrant Loonzain Total Percentage of total sales % % % % % % % % % % % % % % % %