Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of nice-White, Fragrant, and Loonzain Budgeted sales by product and in total for the coming month are shown below White 201 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 312,000 93.600 $ 210,400 100 30 Product Fragrant Lootsin 325 $ 130,000 100 200.000 100 104,000 BO 114.100 555 $ 26,000 203 $ 93, 600 45 300 486 Tota! 100 650,000 312.000 238.000 231, 920 106,080 Dollar sales to break-even Fixed expenses CH ratio - $446,000 $231,920 0.52 As shown by these data, net operating income is budgeted at S106,080 for the month and the estimated break-even sales is $446,000 Assume that actual sales for the month total $650,000 as planned, however, actual sales by product are: White, $208,000: Fragrant $260.000; and Loonzain. $182,000 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, Lid. Contribution Income Statement Product Fragrant White % Percentage of total sales $260,000: and Loonzain. $182,000. 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 Loonzain Total White Fragrant % % % Percentage of total sales % % % % % % % % 0% 5 0 01% 0% 0 $ 0 0 % $ D s 0 LOU Required 2 > 18 100 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Fragrant 205 $ 130,000 104.000 $ 26,000 $312.000 93, 600 3 218,400 100 1001 30 700 Loontain 32 $ 200,000 200 111.300 55 % $93.600 45 BOS 205 Total 100 650.000 312,000 336.000 231,920 106,00 52 Dollar sales to break-even Fixed expenses OM ratio $231, 920 0.52 $446,000 As shown by these data, net operating income is budgeted at $106,080 for the month and the estimated break-even sales is $446,000 Assume that actual sales for the month total $650,000 as planned, however, actual sales by product are: White, $208.000, Fragrant, $260,000; and Loonzain, $182,000 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 Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales
