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 $336,000 100,800 s 235,200 100% $140,000 112,000 70% $ 28,000 100% $224,000 123,200 20% $100,800 100% $700,000 336,000 364,000 224,640 139,360 100% 48% 30 % 80 % 55 % 45 % 52 % Fixed expenses CM ratio $224,640 -$432,000 Dollar sales to break-even - 0.52 As shown by these data, net operating income is budgeted at $139,360 for the month and the estimated break-even sales is $432,000 Assume that actual sales for the month total $700,000 as planned. Actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000 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 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 Fragrant White Loonzain Total Percentage of total sales Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales