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i need solution to the attached file ASSIGNMENT II i Saved Help Save & Exit Submit Check my work Gold Star Rice, Ltd., of Thailand
i need solution to the attached file
ASSIGNMENT II i Saved Help Save & Exit Submit Check my work Gold Star Rice, Ltd., of Thailand exports Thai 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: 10 points White 48 % $ 307,200 92,160 $ 215,040 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100 % 30 % 70% Fragrant 20 % $ 128,000 102,400 $ 25,600 Product Loonzain 32 % 100 % $ 204,800 100 % 80 % 112,640 55 % 20 % $ 92,160 eBook Total 100 % $ 640,000 307,200 332,800 229,320 $ 103,480 100 % 48 % 52% 45 % Print References Dollar sales to break-even Fixed expenses CM ratio $229,320 0.52 = $441,000 As shown by these data, net operating income is budgeted at $103,480 for the month and the estimated break-even sales is $441,000. Assume that actual sales for the month total $640,000 as planned; however, actual sales by product are: White, $204,800; Fragrant, $256,000, and Loonzain, $179,200. 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 dataStep by Step Solution
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