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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

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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 salon Sales Variable expenses Contribution margin Fixed expenses Net operating income 100 White 48 $ 312,000 93,600 $ 218,400 Product Fragrant Loona in 20 32 $ 130,000 100 5 208.000 100 104,000 BO 110,400 55 $ 26,000 20 S 93,600 45 100 303 70 Total 100 5 650,000 312.000 333,000 225, 220 $ 111,280 528 Pixed expenses Dollar sales to break-even - $225, 220 $436,000 CM ratio 0.52 As shown by these data, net operating income is budgeted at $11,280 for the month and the estimated break-even sales is $436,000. Assume that actual sales for the month total $650,000 as planned; however, actual sales by product ore: 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. 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 Fagrant % % % Total White % Loonzain % % Percentage of total sales % % % % % % % % % % Required 1 Required 2 > 3 As shown by these data, net operating income is budgeted at $111.280 for the month and the estimated break-even sales is $436,000. 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 (Required 1 Required 2 >

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