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 Product White 48 % Fragrant 20% Loonzain 32 % Total 100 % Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 355,200 100 % $148,000 100 % $236,800 100 % $740,000 100 % 48 % 52 % 355,200 384,800 228,800 $ 156,000 106,566 $ 248,640 30 % 118,400 80% 130, 240 55 % 70 % $ 29,600 20 % $ 106,560 45 % 228,800 0.52 Fixed expenses Dollar sales to break-even = $440,000 CM ratio As shown by these data, net operating income is budgeted at $156,000 for the month and the estimated break-even sales is $440,000 Assume that actual sales for the month total $740,000 as planned. Actual sales by product are: White, $236,800; Fragrant, $296,000 and Loonzain, $207,200 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