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: White 48 $ 350, 400 105,120 $ 245,280 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100 48 Product Fragrant Loonzain 20 32 $ 146,000 100 $ 233,600 100 % 116,800 80 128,480 55 $ 29,200 20 $ 105,120 45 1002 30 704 Total 100 $ 730,000 350.400 379,600 230,360 $ 149,240 52 Dollar sales to break-even Fixed expenses CM ratio $230,360 0.52 = $443,000 As shown by these data, net operating income is budgeted at $149,240 for the month and the estimated break-even sales is $443,000 Assume that actual sales for the month total $730,000 as planned; however, actual sales by product are: White, $233,600 Fragrant. $292,000; and Loonzain, $204.400 Required: 1. Prepare a contribution format income statement for the month based on the actual sales cata. 2. Compute the break-even point in dollar sales for the month based on your actual data. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that actual sales for the month total $730,000 as planned; however, actual sales by product are: White, $233,600; Fragrant, $292,000; and Loonzain, $204.400. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. White Loonzain Total Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant % % % % 0 % $ 0 01% $ % % Percentage of total sales % % % % 0 % $ 0 0 0 % 0 $ 0 Required 2 > Dollar sales to break-even Fixed expenses CM ratio $ 230,360 0.52 - $443,000 Is shown by these data, net operating income is budgeted at $149,240 for the month and the estimated break-even sales is $443,000. Assume that actual sales for the month total $730,000 as planned; however, actual sales by product are: White, $233,600; ragrant, $292,000; and Loonzain, $204,400. Required: 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales
