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:

	Product
	White					Fragrant					Loonzain					Total
Percentage of total sales		48	%				20	%				32	%				100	%
Sales	$	297,600		100	%	$	124,000		100	%	$	198,400		100	%	$	620,000		100	%
Variable expenses		89,280		30	%		99,200		80	%		109,120		55	%		297,600		48	%
Contribution margin	$	208,320		70	%	$	24,800		20	%	$	89,280		45	%		322,400		52	%
Fixed expenses																	228,280
Net operating income																$	94,120

Dollar sales to break-even	=	Fixed expenses	=	$228,280	= $439,000
		CM ratio		0.52

As shown by these data, net operating income is budgeted at $94,120 for the month and the estimated break-even sales is $439,000.

Assume that actual sales for the month total $620,000 as planned. Actual sales by product are: White, $198,400; Fragrant, $248,000; and Loonzain, $173,600.

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.

Prepare a contribution format income statement for the month based on the actual sales data.

Gold Star Rice, Ltd.
Contribution Income Statement
	Product
	White			Fragrant			Loonzain			Total
Percentage of total sales		%			%			%			%
			%			%			%			%
			%			%			%			%
	$0	0	%	$0	0	%	$0	0	%	0	0	%
										$0