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: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48 % $ 345,600 103,680 $ 241,920 100 % 30 % 70% Product Fragrant Loonzain 20 % 32 % $ 144,000 100 % $ 230,400 100 % 115,200 80 % 126,720 55 % $ 28,800 20 % $ 103,680 45 % Total 100 % $ 720,000 345,600 374,400 225,680 $ 148,720 100 % 48 % 52 % Dollar sales to break-even = Fixed expenses CM ratio $225,680 0.52 = $434,000 As shown by these data, net operating income is budgeted at $148,720 for the month and the estimated break-even sales is $434,000. Assume that actual sales for the month total $720,000 as planned. Actual sales by product are: White, $230,400; Fragrant, $288,000; and Loonzain, $201,600. 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. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. White 48 X % $ 165,888 X 100 49,766 X 30 $ 116,122 70 Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant Loonzain 20 X % 32 X % $ 28,800 X 100 % $ 73,728 X 100 23,040 X 80 % 40,550 X 55 $ 5,760 20 % $ 33,178 45 $ Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income ~ % % % Total 100 % 720,000 X 720,000 % % % 100 57 43 % % % $ 720,000 Complete this question by entering your answers in the tabs below. UUUUUUUUUUUUUUUUUUUUUUU 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