Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Dollar sales to break-even Product White 48% $ 374,400 112,320 Fragrant 20% 100% $ 156,000 Loonzain Total 30% $ 262,080 70% $ 124,800 31,200 32% 100% $ 249,600 80% 100% 137,280 20% $ 112,320 100% 55% 45% $ 780,000 100% 374,400 48% 405,600 52% 231,920 $ 173,680 Fixed expenses CM ratio $231,920 0.52 $446,000 As shown by these data, net operating income is budgeted at $173,680 for the month and the estimated break-even sales is $446,000. Assume that actual sales for the month total $780,000 as planned. Actual sales by product are: White, $249,600; Fragrant, $312,000; and Loonzain, $218,400. 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 White Fragrant Loonzain Percentage of total sales % % % % % % % % % % % % Total % % % %