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: Product White 48 % Fragrant 20 % Loonzain 32 % Total 100 % Percentage of total sales Sales Variable expens Contribution margin Fixed expenses Net operating income 100 % $640,000 307,200 332,800 225,680 $ 107,120 $307,200 92,160 $ 215,040 100 % $128,000 102,400 70% $ 25,600 100 % $204,800 112,640 20% $ 92,160 100 % 48% 30 % 80 % 55 % 45 % es 52 % $225,680 = $434,000 Fixed expenses CM ratio Dollar sales to break even- 0.52 As shown by these data, net operating income is budgeted at $107,120 for the month and the estimated break-even sales is $434,000. Assume that actual sales for the month total $640,000 as planned. Actual sales by product are: White, $204,800 Fragrant, $256,000; and Loonzain, $179,200 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