PROBLE M 4 21 Sales Mix; Multiproduct Break-Even Analysis LO9 od San Rice, Ltd, of Thailand exports Thait rice throughout Asia The companye grows threeE ncties of rice Fragrant, White and Loonzain Budgeted sales by prodct and in total for the coming imonth are shown below 52% 28% 100% Percentage of total sales Variable expenses . Fixed expenses 20% $150,000 108,000 $42,000 100% 40% $750,000 270,000 $390,000 100% $210,000 100% 72% 28% 100% 36% 78,000 20% 84,000 . . $312,000 80% $126,000 60% 480,000 64% 449,280 $30,720 Net operating income Dollar sales to-Fixed expenses = $449,280 = $702,000 break even CM ratio 0.64 As shown by these data, net operating income is budgeted at $30,720 for the month and break- even sales at $702,000. Assume that actual sales for the month total $750,000 as planned. 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 actual sales data. Present the income statement in the format shown above Compute the break-even point in dollar sales for the month based on your actual data. Considering the fact that the company met its $750,000 sales budget for the month, the pres ident is shocked at the results shown on your income statement in (I) above. Prepare a brief memo for the president explaining why both the operating results and the break-even point in dollar sales are different from what was budgeted 2. 3