Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceFragrant, White, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product White Fragrant Loonzain Total Percentage of total sales 48% 20% 32% 100% Sales $ 331,200 100% $ 138,000 100% $ 220,800 100% $ 690,000 100% Variable expenses 99,360 30% 110,400 80% 121,440 55% 331,200 48% Contribution margin $ 231,840 70% $ 27,600 20% $ 99,360 45% 358,800 52% Fixed expenses 227,760 Net operating income $ 131,040 Dollar sales to break even = Fixed expenses = $227,760 = $438,000 CM ratio 0.52 As shown by these data, net operating income is budgeted at $131,040 for the month and break even sales at $438,000. Assume that actual sales for the month total $690,000 as planned. Actual sales by product are: White, $220,800; Fragrant, $276,000; and Loonzain, $193,200. Required: 1. Prepare a contribution format income statement for the month based on actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to nearest whole dollar.)