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: White 48% $ 350,400 105,120 $ 245, 280 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Product Fragrant 20% $ 146,000 100% 116,800 80% $ 29, 200 20% 100% 30% 70% 100% Loonzain 32% $ 233,600 100% 128,480 55% $ 105,120 45% Total 100% $ 730,000 350,400 379,600 227,760 $ 151,840 48% 52% Dollar sales to break-even Fixed expenses CM ratio $227,760 0.52 = $438,000 As shown by these data, net operating income is budgeted at $151,840 for the month and the estimated break-even sales is $438,000. 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. 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. 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, Ltd. Contribution Income Statement Product Fragrant White Loonzain Total Percentage of total sales % % % % % % % % % % % % % % % % Required 1 Required 2 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales Required 1 Required 2