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 48 % $ 307,200 92,160 $ 215,040 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100 % 30 % Product Fragrant Loonzain 20 % 32 % $ 128,000 100 % $ 204,800 100 % 102,400 80 % 112,640 55 % $ 25,600 20% $ 92,160 45 % Total 100 % $ 640,000 307,200 332,800 223,600 $ 109,200 100 % 48 % 52 % 70 % Dollar sales to break-even Fixed expenses $223,600 CM ratio $430,000 0.52 As shown by these data, net operating income is budgeted at $109,200 for the month and the estimated break-even sales is $430,000. Assume that actual sales for the month total $640,000 as planned. 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