Gold Star Rice, Ltd. of Thailand exports Thalnice 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 white Fragrant Loontain 109 100 S $ 297,600 39,20 203.320 100 % % 20 124,000 9,200 24.800 198,400 109,120 89,230 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100 K 55 45 Total 100 620,000 297. 322,400 224. 120 98.288 S 20 $ $ $ - Dollar sales to break even Fixed expenses CH ratio $224.120 052 $491.000 As shown by these data, net operating income is budgeted at $98.280 for the month and the estimated break-even sales is $431.000 Assume that actual sales for the month total 5620,000 as planned. Actual sales by product are: White, $198.400 Fragrant, 5248.000; and Loonzain, 5173,600. 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 Loonzain Assume that actual sales for the month total $620,000 as planned. Actual sales by product are: White, $198,400, Fragrant, $248,000, and Loonzain, $173,600 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 Loonzain of total sales Required 2 > Product White 483 $ 297,600 89,280 208,320 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Fragrant 20 % $ 124,000 99,200 $ 24,800 100 % 32 % 70% 100% Loontain 323 198,400 109, 120 89,280 100 % 80% 20% 100% 55 45% 5 Total 100 5 620, 297,600 322,400 224,120 $ 98.280 $ Dollar sales to break-even Fixed expenses . CH ratio $224,120 0.52 $431,000 As shown by these bata, net operating income is budgeted at $98,280 for the month and the estimated break-even sales is $431,000. Assume that actual sales for the month total $620,000 as planned. Actual sales by product are: White, $198,400; Fragrant, $248,000, and Loonzain, $173,600 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 Required 1
