Thai Star Rice. Ltd. Of Thailand exports Thai rice throughout Asia. The company produces three varieties of rice Glutinous, Jasmine, and Red. Budgeted sales by product and in total for the coming month are shown below: Glutinous Product Jasmine Red Total Percentage of total sales Sales 20% B160,000 100% 52% B416,000 100% 28% 100% B224,000 100% B 800,000 100% Less variable expenses Contribution margin Less fixed 115,200 72 83,200 20 89,600 40 288,000 36 * B 44,800 28% B332,800 80% B134,400 60% 512,000 64% expenses Net operating income (loss) 460,200 B 51,200 *B480,000 B750,000 = 64%. Budgeted Break-even sales: B460,200 .64 = B719,063 Actual Sales for the month were B800,000 as planned. Sales by product were: Glutinous, $320,000; Jasmine, B192,000; and Red, B288,000. Required: 1. Prepare the actual income statement for the month using the budget format. 2. Compute the breakeven point based on actual sales for the month. 3. Given that total sales were equal to the budget the company president is shocked that the company income was negative. Write a brief explanation for the president explaining why the actual income and breakeven point are different from the budget.