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 % $ 364,800 109,440 $ 255, 360 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 100 % 30 % 70 % Fragrant 20 % 152,000 100 % 121,600 80 % 20 % Loonzain 32 % $ 243,200 100 % 133,760 55 % $ 109,440 45 % Total 100 % 760,000 364,800 395,200 227,760 $ 167,440 100 % 48 % 52 % $ 30,400 Dollar sales to break-even Fixed expenses CM ratio $227,760 0.52 = $438,000 As shown by these data, net operating income is budgeted at $167,440 for the month and the estimated break-even sales is $438,000. Assume that actual sales for the month total $760,000 as planned; however, actual sales by product are: White, $243,200; Fragrant, $304,000; and Loonzain, $212,800. 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