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: 100% 72% White 20% $ 150,000 108,000 $ 42,000 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Product Fragrant 52% $ 390,000 100% 78,000 20% $ 312,000 80% Loonzain 28% $ 210,000 100% 84,000 40% $ 126,000 60% 100% 36% Total 100% $ 750,000 270,000 480,000 449, 280 $ 30,720 28% 64% Dollar sales to break-even Fixed expenses CM ratio $ 449,280 0.64 = $702,000 As shown by these data, net operating income is budgeted at $30,720 for the month and the estimated break-even sales is $702,000. Assume that actual sales for the month total $750,000 as planned. Actual sales by product are: White, $300,000; Fragrant, $180,000; and Loonzain, $270,000. 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. 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 % % % % % % % % % % % % 0 % $ $ 0 0 0 % $ 0 % 0 0 % o 0 Required 1 Required 2 Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. Break-even point in dollar sales