Problem 5-21 (Algo) Sales Mix; Multiproduct Break-Even Analysis (L05-9] Gold Star Rice, Ltd., 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: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48 % $ 345,600 103,680 $ 241, 920 Fragrant 20 % 100 % $ 144,000 30 % 115,200 70 % $ 28,800 Product Loonzain 32 % 100 % $ 230,400 80 % 126,720 20 % $ 103,680 100 % 55 % 45 % Total 100 % $ 720,000 345,600 374,400 231,920 $ 142,480 100 % 48 % 52 % Dollar sales to break-even Fixed expenses CM ratio $231,920 0.52 = $446,000 As shown by these data, net operating income is budgeted at $142,480 for the month and the estimated break-even sales is $446,000. Assume that actual sales for the month total $720,000 as planned; however, actual sales by product are: White, $230,400; Fragrant, $288,000, and Loonzain, $201,600. 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 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 Fragrant White Loonzain Total Percentage of total sales % % % % % % % % % % % % $ 0 0 % $ 0 0 % $ 0 0 % 0 0 % $ 0 Required 1 Required 2 > 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 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