Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Gold Star Rice, Ltd. of Thailand exports That rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product
Gold Star Rice, Ltd. of Thailand exports That rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below. Total 100 $ 740,000 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating Income Product Fragrant Loorain $ 148,000 to $236,800 100 113.400 110.240 30 $ 106,56 $ 355,200 100 JOGLO $ 248,640 384,600 223.60 $ 161,200 Dollar sales to break-even Fixed expenses C ratio -$430,000 As shown by these data. net operating income is budgeted at $161.200 for the month and the estimated break-even sales is $430,000. Assume that actual sales for the month total $740,000 as planned. Actual sales by product are: White, 5236,800, Fragrant, S296.000 and Loonzain. $207,200. 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 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Lid Contribution Income Statement Product Fragrant White Loonzain Total Percentage of total sales % (Required Required 2 >
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started