Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: White 48 % $ 292,800 87,840 $ 204,960 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100 % 30 % 70 % Fragrant 20 % $ 122,000 97,600 $ 24,400 Product Loonzain 32 % 100 % $ 195,200 80 % 107,360 20 % $ 87,840 100 % 55 % Total 100 % $ 610,000 292,800 317,200 232,440 $ 84,760 100 % 48 % 52 % 45 % Dollar sales to break-even Fixed expenses CM ratio $232,440 0.52 = $447,000 As shown by these data, net operating income is budgeted at $84,760 for the month and the estimated break-even sales is $447,000. Assume that actual sales for the month total $610,000 as planned; however, actual sales by product are: White, $195,200; Fragrant, $244,000; and Loonzain, $170,800. 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.