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% $ 326,400 97,920 $ 228, 480 100% 30% 70% Product Fragrant 20% $ 136,000 100% 108,800 80% $ 27,200 20% Loonzain 32% $ 217,600 100% 119,680 55% $ 97,920 45% Total 100% $ 680,000 326,400 353,600 230,880 $ 122, 720 100% 48% 52% Dollar sales to break-even = Fixed expenses CM ratio $230,880 0.52 = $444,000 As shown by these data, net operating income is budgeted at $122,720 for the month and the estimated break-even sales is $444,000. . Assume that actual sales for the month total $680,000 as planned. Actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain. $190,400. 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. 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 1 Required 2 >