Problem 6-21 Sales Mix; Multiproduct Break-Even Analysis (L06-9) 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% $ 340,800 1004 102,240 304 $ 238,560 70 Product Fragrant 209 $ 142,000 1009 113,600 80% $ 28,400 20 Loonzain 329 $ 227,200 1000 124,960 55 $ 102,240 454 Total 1000 $ 710,000 340,800 369,200 228,280 $ 140,920 1009 48% 52N Dollar sales to break-even Fixed expenses CM ratio $228,280 0.52 = $439,000 As shown by these data, net operating income is budgeted at $140,920 for the month and the estimated break-even sales is $439,000 Assume that actual sales for the month total $710,000 as planned. Actual sales by product are: White, $227.200; Fragrant $284,000; and Loonzain, $198,800. 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