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: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48 % $ 374,400 112,320 $ 262,080 100 $ 30 % 70% Product Fragrant Loonzain 20 % 32 % $ 156,000 100% $ 249,600 124,800 8 0 % 137,280 $ 31,200 20% $ 112,320 100 % 55 % 45 % Total 100 % $ 780,000 374,400 405, 600 225,680 $ 179,920 100 % 48 % 52 % Dollar sales to break-even - Fixed expenses CM ratio $225,680 - - $434,000 0.52 As shown by these data, net operating income is budgeted at $179,920 for the month and the estimated break-even sales is $434,000. Assume that actual sales for the month total $780,000 as planned. Actual sales by product are: White, $249,600; Fragrant, $312,000; and Loonzain, $218,400. 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 Fragrant White Loonzain Total Percentage of total sales % % Compute the break Required 2 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