White 48 % $ 316,800 95,040 $ 221,760 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 100 % 30 % 70 % Fragrant 20 % 132,000 105,600 26,400 Product Loonzain 32 % 100 % $ 211,200 80 % 116,160 2 0 % $ 95,040 100 % 55 % 45 % Total 100 % $ 660,000 316,800 343,200 229,840 $ 113,360 100 % 48 % 52 % $ Dollar sales to break-even = - Fixed expenses CM ratio $229,840 - = $442,000 0.52 As shown by these data, net operating income is budgeted at $113,360 for the month and the estimated break-even sales is $442,000. Assume that actual sales for the month total $660,000 as planned. Actual sales by product are: White, $211,200; Fragrant, $264,000; and Loonzain, $184,800. 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 % Total White % Loonzain % Percentage of total sales