Problem 6-21 Sales Mix; Multiproduct Break-Even Analysis (LO6-9) Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of riceWhite, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: White 48% $ 350, 400 105,120 $ 245, 280 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 100% 30% Product Fragrant 20% $ 146,000 100% 116,800 80% $ 29, 200 20% Loonzain 32% $ 233,600 100% 128,480 55% $ 105,120 45% Total 100% $ 730,000 350, 400 379,600 228,280 $ 151,320 100% 48% 52% 70% 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 $151,320 for the month and the estimated break-even sales is $439,000. 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. Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Ltd. Contribution Income Statement Product Fragrant % White Total Loonzain % Percentage of total sales % % % % % % % % % 0 % $ % 0 % $ 0 0 % $ 0 0 0 0 % $ 0 Required Required 2 Required 1 Required 2 Compute the break-even point in dollar sales for whole dollar amount.) Break-even point in dollar sales Rea