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: Product Percentage of total sales Sales White 48% Fragrant 20% Loonzain 32% Total 100% Variable expenses $ 316,800 95,040 100% 30% $ 132,000 105,600 100% 80% $ 211,200 116,160 100% 55% $ 660,000 100% 316,800 48% Contribution margin Fixed expenses Net operating income $ 221,760 70% $ 26,400 20% $ 95,040 45% 343,200 52% 226,200 $ 117,000 Dollar sales to break-even = Fixed expenses / CM ratio = $226,200/0.52 = $435,000 As shown by these data, net operating Income is budgeted at $117,000 for the month and the estimated break-even sales is $435,000. Assume that actual sales for the month total $660,000 as planned; however, actual sales by product are: White, $211,200; Fragrant, $264,000; and Loonzain, $184,800. 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 Product White Fragrant Loonzain Percentage of total sales % % % % % % % % % % % % Total % % % %