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 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% $ 384,000 115,200 $ 268,800 100% 30% 70% Product Fragrant 20% $ 160,000 128,000 $ 32,000 100% 80% 20% Loonzain 32% $ 256,000 100% 140,800 55% $ 115,200 45% Total 100% $ 800,000 384,000 416,000 226,200 $ 189,800 100% 48% 52% Dollar sales to break-even Fixed expenses CM ratio $226,200 0.52 $435,000 As shown by these data, net operating income is budgeted at $189,800 for the month and the estimated break-even sales is $435,000. Assume that actual sales for the month total $800,000 as planned. Actual sales by product are: White, $256,000; Fragrant, $320,000; and Loonzain, $224,000. 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