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: Product Percentage of total sales White 48 % Fragrant 20% Loonzain 32% Total 100 % Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 326,400 97,920 100 % 30% $ 228,480 70% $ $ 136,000 108,800 27,200 100 % $ 217,600 80 % 119,680 20% $ 97,920 100 % 55 % $ 680,000 326,400 100 % 48% 45% 353,600 52 % 231,400 $ 122,200 Dollar sales to break-even Fixed expenses CM ratio $231,400 0.52 = $445,000 As shown by these data, net operating Income is budgeted at $122,200 for the month and the estimated break-even sales is $445,000. Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. 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 White Fragrant Loonzain Total Percentage of total sales % % % 96 % % % 96 % % % % $ 0 0% $ 0 0% $ 0 0% 0 0% < Required 1 Required 2 > $ 0