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 expenses Contribution margin Fixed expenses Net operating income $316,800 95,040 100 % $211,200 116,160 20% $ 95,040 100 % $660,000 100 % $132,000 105,600 100 % 48 % 316,800 343,200 226,720 116,480 30 % 80 % 55 % 221,760 70% $ 26,400 45 % 52 % $226,720 = $436,000 Fixed expenses CM ratio Dollar sales to break-even- 0.52 As shown by these data, net operating income is budgeted at $116,480 for the month and the estimated break-even sales is $436,000 Assume that actual sales for the month total $660,000 as planned. Actual sales by product are: White, $211,200; Fragrant, $264,000; and Loonzain, $184,800 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