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Please answer both the questions in the picture Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of

Please answer both the questions in the picture

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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: Product White Fragrant Loonzain Total. Percentage of total sales 20 95 52 9a 28 9a 100 95 Sales $ 150,000 100 9a $ 390,000 100 9a $ 210,000 100 9a $ 750,000 100 96 Variable expenses 108,000 72 9s 78, 000 20 9s 84, 000 40 95 270,000 36 95 Contribution margin $ 42.000 28 9o $ 312.000 80 96 $ 126,000 60 96 480,000 64 96 Fixed expenses 449,280 Net operating income $ 30,720 _ _ Fixed expenses _ $449,280 _ Dollar sales to break even CM ratio 0.64 $702,000 As shown by these data, net operating income is budgeted at $30,720 for the month and the estimated break-even sales is $702,000. Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $300,000; Fragrant, $180,000; and Loonzain, $270,000. 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

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