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Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice Fragrant, White, and Loonzain. Budgeted sales by
Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice Fragrant, White, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Not operating income $345600 100% 103.680 30% $144,000 15200 100% 80% 32% $230,400 126,720 100% 55% 100% 720,000 345 600 100% 48% 374.400 31 400 43.000 Fxed e Doliar sales to break even Unit CM 50.52$445,000 As shown by these data, net operating income is budgeted at $143,000 for the month and break even sales at $445,000 Assume that actual sales for the month total $720,000 as planned. Actual sales by product are: White, $230,400; Fragrant, $288,000; and Loonzain, $201,600. Required 1. Prepare a contribution format income statement for the month based on actual sales data Total Percentage of lotal 0% 0% operatng income 2. Compute the break-even point in dollar sales for the month based on your actual data Round your final answer to the nearest whole dollar.)
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