Problem 6-21 (Algo) Sales Mix; Multiproduct Break-Even Analysis [LO6-9] Gold Star Rice, Limited, of Thailand exports Thal 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 White 48% Product Fragrant 20% Loonzain 32% Total 100% Variable expenses $ 326,400 97,920 100% 30% $ 136,000 108,800 100% 80% $ 217,600 119,680 100% 55% Contribution margin $ 228,480 70% $ 27,200 20% $ 97,920 45% $ 680,000 326,400 $ 353,600 100% 48% 52% Fixed expenses Net operating income 228,800 $ 124,800 Dollar sales to break-even = Fixed expenses/CM ratio = $228,800/0.52 = $440,000 As shown by these data, net operating Income is budgeted at $124,800 for the month and the estimated break-even sales is $440,000. Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. 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. 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 Fragrant White Loonzain Total Percentage of total sales Sales % % % % % % % % Variable expenses % % % % Contribution margin $ 0 0% S 0 0% S 0 0% 0 0% Fixed expenses Net operating income $ 0