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: white 20% Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 307,200 92,160 $ 215,040 100 Product Fragrant Loonzain 32 $ 128,000 100 $ 204,800 100 102,400 80 112,640 55 $ 25,600 20 $ $ 92,160 45 100 30 70% Total 100% $ 640,000 307,200 332,800 229,840 $ 102,960 Dollar sales to break-even Fixed expenses CM ratio $229,840 0.52 - $442,000 As shown by these data, net operating income is budgeted at $102,960 for the month and the estimated break-even sales is $442,000. Assume that actual sales for the month total $640,000 as planned; however, actual sales by product are: White, $204,800; Fragrant, $256,000; and Loonzain, $179,200. 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. 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 % % % % % % % % % $ 0 0 % $ 0 0 % $ 0 0 % 0 0 % $ 0 Required 1 Required 2 >