KQuestion 12 (of 13) 12. value 2.50 polnts Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice- -Fragrant, White, and Loonzain. Budgeted sales by product and in total for the coming month are shown below Product Total 100% Fragrant White 486 Loonzain 3296 20% Percentage of total sales Sales Variable expenses $307.200 100% $128,000 100% $204,800 100% $640,000 100% 92.160 3096 102.400 8096 112.640 5596 307.200 4896 $215.040 7096 $25.600 2096 $92,160 45% 332,800 52% Contribution margin Fixed expenses Net operating income 227,240 $105,560 Fixed expenses CM ratio $227,240 0.52 227.240 $437,000 Dollar sales to break even As shown by these data, net operating income is budgeted at $105,560 for the month and break even sales at $437,000. Assume that actual sales for the month total $640,000 as planned. 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 actual sales data. saf