Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please complete these parts. Thank you Gold Star Rice, Lid., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant,

Please complete these parts. Thank you

image text in transcribed
Gold Star Rice, Lid., 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. White agrant Percentage of total sales Salem $ 302, 406 100 5 126,080 100 4 5 201,600 100 5 630,000 variable expenses 90 720 36 180,806 80 8 110 080 55 8 302, 400 Contribution margin 211,680 705 9 25,200 DO, 720 45 5 127,600 Fixed expenses 234000 Net operating Income D3, 600 Dollar sales to break CH ratio 0.52 - $450,008 As shown by these data, net operating income is budgeted at $93,600 for the month and the estimated brea k- even sales is $450,000. Assume that actual sales for the month total $630,000 as planned; however, ual sales by product are: White, $201,600; Fragrant, $252.000, and Loonzain, $176.400. 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, Lid. Contribution Income Statement Percentage of total sales Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Accounting questions

Question

How is the NDAA used to shape defense policies indirectly?

Answered: 1 week ago