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 $ White 48 % 384,000 115,200 268,800 $ Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $ Fragrant 20% 160,000 128,000 32,000 100 % 30 % 70 % $ Loonzain 32 % 256,000 140,800 115,200 100 % 80% 20 % 100 % 55 % 45 % Total 100 % 800,000 384,000 416,000 228,280 187,720 100 % 48 % 52 % $ $ $ $ Dollar sales to break-even = Fixed expenses CM ratio $228, 280 - = $439,000 0.52 As shown by these data, net operating income is budgeted at $187,720 for the month and the estimated break-even sales is $439,000. Assume that actual sales for the month total $800,000 as planned. Actual sales by product are: White, $256,000; Fragrant, $320,000; and Loonzain, $224,000. 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. 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 40% Loonzain Total White 32% Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 0 0% $ 0 0% $ 0 0% Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales