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 % Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 369,600 110,880 $ 258,720 100 % $ 154,000 30% 123,200 70% $ 30,800 100 % 80% 20 % $ 246,400 135,520 $ 110,880 100 % 55 % 45 % Total 100 % $ 770,000 369,600 100 % 48 % 400,400 52 % 225,160 $ 175,240 Dollar sales to break-even = Fixed expenses CM ratio $225,160 0.52 = $433,000 As shown by these data, net operating income is budgeted at $175,240 for the month and the estimated break-even sales is $433,000. Assume that actual sales for the month total $770,000 as planned. Actual sales by product are: White, $246,400; Fragrant, $308,000; and Loonzain, $215,600. 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.