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 % Fragrant 20 % $ 156,000 124,800 $ 31,200 Product Loonzain 32 % 100 % $ 249,600 100 % 80 % 137,280 55 % 20 % $ 112,320 45 % Total 100 % $ 780,000 374,400 405,600 229,320 $ 176,280 100 % 48 % 52 % Dollar sales to break-even Fixed expenses CM ratio $229,320 0.52 = $441,000 As shown by these data, net operating income is budgeted at $176,280 for the month and the estimated break-even sales is $441,000. 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