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 % $ 336,000 100,800 $ 235,200 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 100 % 30 % 70 % Fragrant 20 % 140,000 112,000 28,000 Product Loonzain 32 % 100 % $ 224,000 80 % 123,200 20 % $ 100,800 100 % 55 % 45 % Total 100 % $ 700,000 336,000 364,000 231,400 $ 132,600 100 % 48 % 52 % $ Fixed expenses $231,400 Dollar sales to break-even = CM ratio - = $445,000 0.52 As shown by these data, net operating income is budgeted at $132,600 for the month and the estimated break-even sales is $445,000. Assume that actual sales for the month total $700,000 as planned. Actual sales by product are: White, $224,000; Fragrant, $280,000; and Loonzain, $196,000. 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. 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. Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant White Loonzain Total Percentage of total sales Required 1 Required 2 > 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 Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales