Requirement 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.)

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: Percentage of total sales Sales Variable expenses Contribution margin White 48 % $ 369,600 110,880 $ 258,720 100 % 30 % Product Fragrant Loonzain 20 % 32 % $ 154,000 100 % $ 246,400 100 % 123,200 80 % 135,520 55 % $ 30,800 20 % $ 110,880 45 % 100 % 48 % Total 100 % $ 770,000 369,600 400,400 225,680 $ 174,720 70 % 52 % Fixed expenses Net operating income Dollar sales to break-even Fixed expenses CM ratio $225, 680 0.52 = $434,000 As shown by these data, net operating income is budgeted at $174,720 for the month and the estimated break-even sales is $434,000. Assume that actual sales for the month total $770,000 as planned. Actual sales by product are: White, $246,400; Fragrant, $308,000; and Loonzain, $215,600. 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. 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 White Fragrant Loonzain Total Percentage of total sales % % % % % % % % % % % % % % % %