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 White 48 % $ 350, 400 105,120 $ 245,280 100 % 30% 70% Product Fragrant Loonzain 20% 32 % $ 146,000 100 % $ 233, 600 100 % 116,800 80% 128,480 55 % $ 29,200 20% $ 105,120 45 % Total 100 % $ 730,000 350, 400 379,600 229,840 $ 149,760 100 % 48% 52 % Dollar sales to break-even -Fixed expenses CM ratio $ 229.840 = = $442,000 0.52 As shown by these data, net operating income is budgeted at $149,760 for the month and the estimated break-even sales is $442,000. Assume that actual sales for the month total $730,000 as planned. Actual sales by product are: White, $233,600; Fragrant, $292,000; and Loonzain, $204,400. 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. 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 White Fragrant Loonzain Total Percentage of total sales $ 0 0% $ 0 0% $ 0 0% 0 0% $ 0 Required 1 Required 2 >