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 Percentage of total sales White 48 % Fragrant 20% Loonzain 32% Total 100 % Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 355,200 106,560 100 % $ 148,000 30% $ 248,640 70 % $ 118,400 29,600 100 % 80% 20 % $ 236,800 130,240 $ 106,560 100 % 55 % 45 % $ 740,000 355,200 100 % 48 % 384,800 233,480 $ 151,320 52 % Dollar sales to break-even Fixed expenses CM ratio $233,480 0.52 = $449,000 As shown by these data, net operating Income is budgeted at $151,320 for the month and the estimated break-even sales is $449,000. 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