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 % Total 100 % Loonzain Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 32 100% $214,400 117,920 20% $ 96,480 100% $670,000 321,600 348,400 228,800 119,600 $321,600 96,480 $ 225,120 100% $134,000 107,200 70% $ 26,800 100% 48 % 52 % 30 % 55 % 45 % 80 % Fixed expenses CM ratio $228,800$440,000 Dollar sales to break-even - 0.52 As shown by these data, net operating income is budgeted at $119,600 for the month and the estimated break-even sales is $440,000 Assume that actual sales for the month total $670,000 as planned. Actual sales by product are: White, $214,400; Fragrant, $268,000; and Loonzain, $187,600 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