Problem 5-21 Sales Mix; Multiproduct Break-Even Analysis (LO5-9) 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 Product White Fragrant Loonzain Total 48 % 20% 32 % 100% $379,200 100 % $ 158,000 100 % $ 252,800 100 % $ 790,000 100% 113,76030 % 126,400 80% 139, 040 55 % 379,200 48 % $265,440 70 % $ 31,600 20 % $113,76045% 410,800 52 % 231,400 $179,400 Dollar sales to Fixed expenses = $231,400 = break-even CM ratio 0.52 - $445,000 As shown by these data, net operating income is budgeted at $179,400 for the month and the estimated break-even sales is $445,000. Assume that actual sales for the month total $790,000 as planned. Actual sales by product are: White, $252,800; Fragrant, $316,000; and Loonzain, $221,200. 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 Required Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant Loonzain White Total Percentage of total sales % %