PLEASE ANSWER ALL THE PARTS FOR BOTH QUESTIONS 1 and 2. Thank you :)
Question 1:
Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The compary grows three varieties of rice-White. Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Dollar sales to break-even = Foxed expenses /CM ratio =$232,960/0.52=$448,000 As shown by these data, net operating income is budgeted at $105,040 for the month and the estimated break-even sales is $448,000. Assume that actual sales for the month total $650,000 as planned; howevet, actual sales by product are: White, $208,000, Fragrant; $260,000; and Loonzain, $182,000. 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. Pregare a contributoon format income statement for the month based on the actusl sales data. Gold Star Rice, Limited, of Thailand exports Thai rice 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: Dollar sales to break-even = Flxed expenses /CM ratio =$232,960/0.52=$448,000 As shown by these data, net operating income is budgeted at $105,040 for the month and the estimated break-even sales is $448,000. Assume that actual sales for the month total $650,000 as planned; however, actual sales by product are: White, $208,000 : Fragrant, $260,000; and Loonzain, \$182,000; 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. Compute the break-esen point in dollar sales for the month based on your actual data. (Do not round intemediate calculations. Round your answer to the nearest whole doliar amount.) Menlo Company distributes a single product. The company's sales and expenses for last month follow: Required: 1. What is the monthly break-even point in unit sales and in dollar soles? 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3-a. How many units would have to be sold each month to attain a target profit of $27,000 ? 3-b. Verify your answer by preparing a contribution format income statement at the target sales level. 4. Refer to the original dota. Compute the company's margin of safety in both dollar and percentage terms: 5. What is the company's CM ratio? If the company can sell more units thereby increasing sales by $67,000 per month and there is ne change in fixed expenses, by how much would you expect monthly net operating income to increase? Complete this question by entering your answers in the tabs below. What is the monthly break-even point in unit sales and in dollar sales? Complete this question by entering your answers in the tabs below. Without resorting to computations, what is the total contribution margin at the break-even point? Complete this question by entering your answers in the tabs below. How many units would have to be sold each month to attain a target profit of $27,000 ? Verify your answer by preparing a contribution format income statement at the target sales level. Complete this question by entering your answers in the tabs below. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. (Round your percentage answer to 2 decimal places ( ( e. 0.1234 should be entered as 12.34).) Complete this question by entering your answers in the tabs below. What is the company's CM ratio? If the company can sell more units thereby increasing sales by $67,000 per month and there Is no change in fixed expenses, by how much would you expect monthly net operating income to increase
