Problem 5-21 (Algo) Sales Mix; Multiproduct Break-Even Analysis [LO5-9] 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: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Product White 48% Fragrant 20% Loonzain 32% Total 100% $ 364,800 109,440 $ 255,360 30% 100% $ 152,000 121,600 70% $ 30,400 100% $243,200 80% 133,760 20% $ 109,440 100% $760,000 100% 55% 364,800 48% 45% 395,200 52% 231,400 $ 163,800 Dollar sales to break-even Fixed expenses/CM ratio $231,400/0.52 $445,000 As shown by these data, net operating income is budgeted at $163,800 for the month and the estimated break-even sales is $445,000. Assume that actual sales for the month total $760,000 as planned; however, actual sales by product are: White, $243,200; Fragrant, $304,000; and Loonzain, $212,800. 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, Limited Contribution Income Statement Fragrant Product White Loonzain Percentage of total sales % % % % % % % % % % % % 1 Required 2 > Total % % % ** % 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 < Required 1 Required 2 >