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	$	336,000		100	%	$	140,000		100	%	$	224,000		100	%	$	700,000		100	%
Variable expenses		100,800		30	%		112,000		80	%		123,200		55	%		336,000		48	%
Contribution margin	$	235,200		70	%	$	28,000		20	%	$	100,800		45	%		364,000		52	%
Fixed expenses																	227,760
Net operating income																$	136,240

Dollar sales to break even	=	Fixed expenses	=	$227,760	= $438,000
		CM ratio		0.52

As shown by these data, net operating income is budgeted at $136,240 for the month and the estimated break-even sales is $438,000.

Assume that actual sales for the month total $700,000 as planned. Actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000.

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.