Gold Star Rice, Limited, 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: Dollar sales to break-even = Fixed expenses /CM ratio =$231,400/0.52=$445,000 As shown by these data, net operating income is budgeted at $148,200 for the month and the estimated break-even sales is $445,000. Assume that actual sales for the month total $730,000 as planned; however, 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
Other questions asked by students
A 28-year-old woman gave birth to twins in 2014. Her set of twins shared a placenta,...
. The four substances HCl, I2, HI, and Cl2, are mixed in a reaction vessel and...
A bond has a par value of $1,000, a time to maturity of 10 years, and...
High-Low Method to Determine Fixed Cost and Variable Rate McGarvey...
Section V A company expects its three departments to yield the following income for next...
New Inc. is a newly incorporated business that has sold $100,000 worth of common stock...