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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

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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 $ 292,800 87.840 $ 204,960 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100 Product Fragrant Loonzain 20 8 32 $ 122,000 100 $ 195, 200 100 97,600 80 107,360 55 $ 24,400 20 $ 87,840 45 Total 100 $ 610,000 292,800 317,200 226,200 $ 91,000 100 48 52 70 Fixed expenses $226,200 Dollar sales to break-even CM ratio - $435,000 0.52 As shown by these data, net operating income is budgeted at $91,000 for the month and the estimated break-even sales is $435,000. Assume that actual sales for the month total $610,000 as planned. Actual sales by product are: White, $195,200; Fragrant, $244,000; and Loonzain, $170,800. 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. 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 % Loonzain White Total % % % Percentage of total sales % % % 0 % % 0% % % 0 % % % 0 % 0 0 0 $ $ 25 $ 0 Required 2 > 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 Required 1 Required 2

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