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: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating Income Product White Fragrant Loonzain Total 483 32 100 $360,000 100 8 $150,000 100 $ 240,000 100 $750,000 100 108,000 308 120,000 808 132,000 55 360,000 488 $252,000 708 $ 30,000 20 $108,000 45 390,000 528 226, 200 $ 163,800 Dollar sales to break-even Fixed expenses CM ratio $226, 200 - 0.52 $435,000 As shown by these data, net operating income is budgeted at $163,800 for the month and the estimated break-even sales is $435,000 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 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 Required 1 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 % % % % %% % % % % % % % % % % Required 1 Required 2 >