Gold Star Rice, Ltd., of Thailand exports Thal 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% $ 312, eee 93,600 $ 218,400 100% Product Fragrant 20% $ 130,00 104, eee $ 26,000 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100% 80% Loonzain 32% $ 208,00 100% 114,400 55% $ 93,600 45% 100% 48% Total 100% $ 650,00 312, see 338, eee 232,440 $ 105,560 70% 20% 52% Dollar sales to break-even Fixed expenses CM ratio $232,440 0.52 = $447,800 As shown by these data, net operating Income is budgeted at $105,560 for the month and the estimated break-even sales is $447,000. Assume that actual sales for the month total $650,000 as planned. Actual sales by product are: White, $208,000; Fragrant, $260,000; and Loonzain, $182,000. 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. 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 Percentage of total sales White Loonzain Total % 96 96 96 96 96 %6 96 % % % % 9% % Required 1 Required 2 > Gold Star Rice, Ltd., of Thailand exports Thal rice throughout Asia. The company grows three varleties 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 $ Product Fragrant 20% $ 130,eee 100% 194,000 $ 26, eee 2ex white 48% 312, eee 93,600 218, 4ee 100% 30% 70% Loonzain 32% $ 208, eee 114,400 $ 93,600 100% 55% 45% Total 100% $ 650, eee 312, see 338, eee 232,440 $ 105,560 100% 48% 52% $ Dollar sales to break-even Fixed expenses CM ratio $ 232,440 8.52 = $447,800 As shown by these data, net operating income is budgeted at $105,560 for the month and the estimated break-even sales is $447,000. Assume that actual sales for the month total $650,000 as planned. Actual sales by product are: White, $208,000; Fragrant, $260.000; and Loonzain, $182,000. 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. 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
