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	$	360,000	100%	$	150,000	100%	$	240,000	100%	$	750,000	100%
Variable expenses		108,000	30%		120,000	80%		132,000	55%		360,000	48%
Contribution margin	$	252,000	70%	$	30,000	20%	$	108,000	45%		390,000	52%
Fixed expenses											224,120
Net operating income										$	165,880

Dollar sales to break even	=	Fixed expenses	=	$224,120	= $431,000
		CM ratio		0.52

As shown by these data, net operating income is budgeted at $165,880 for the month and break even sales at $431,000.

Assume that actual sales for the month total $750,000 as planned. Actual sales by product are: White, $240,000; Fragrant, $300,000; and Loonzain, $210,000.

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 final answer to the nearest whole dollar.)

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Island Novelties, Inc., of Palau makes two products, Hawaiian Fantasy and Tahitian Joy. Present revenue, cost, and sales data for the two products follow:

Fixed expenses total $710,700 per year.

Required:
1.	Assuming the sales mix given above, do the following:

a.

Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole.

b. Compute the break-even point in dollar sales for the company as a whole and the margin of safety in both dollars and percent. Round your "Margin of safety percentage" to 1 decimal place (i.e .1234 should be entered as 12.3).

2.	The company has developed a new product to be called Samoan Delight. Assume that the company could sell 15,000 units at $60 each. The variable expenses would be $48 each. The companys fixed expenses would not change.

a.

Prepare another contribution format income statement, including sales of the Samoan Delight (sales of the other two products would not change). Round your "Percentage" answers to 1 decimal place (i.e .1234 should be entered as 12.3).

b.	Compute the companys new break-even point in dollar sales and the new margin of safety in both dollars and percent. Round your dollar amounts to nearest whole number. Round your "Percentage" answer to 1 decimal place (i.e .1234 should be entered as 12.3).