Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gold star rice, limited, of thailand exports thai

Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three...

70.2K

Verified Solution

Question

Accounting

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 =$449,2800.64=$702,000
As shown by these data, net operating income is budgeted at $30,720 for the month and the estimated break-even sales is $702,000.
Assume actual sales for the month total $750,000 as planned; however, actual sales by product are White, $300,000; Fragrant, $180,000; and Loonzain, $270,000.
Required:
Prepare a contribution format income statement for the month based on the actual sales data.
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.
Prepare a contribution format income statement for the month based on the actual sales data.
\table[[Gold Star Rice, Limited],[Contribution Income Statement],[,Product],[,White,Fragrant,Loonzain,Total],[Percentage of total sales,%,,%,,%,,%,],[,,%,,%,,%,,%
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

1. Differentiate between the main types of photosynthetic autotrophs. Now, explain the general importance of photosynthetic organisms...

Operations Management
1.2K views

Pizza King (PK) and Noble Greek (NG) are competitive pizza chains.  PK believes there is a 30%...

Biology
1.2K views

In a diploid organism with 17 pairs of chromosomes what is the possible lowest number...

Basic Math
1.2K views

A hot-air balloon is floating above a straight road. To calculate their height above the...

Statistics
1.2K views

f a f a h f a h f a Need Help 0 25 Points...

Calculus
1.2K views

Determine whether the statement is true or false lim x x245 5x 6 X 1...

Accounting
1.2K views

The cost function y = 1,000 + 5X (Points : 5) A.) represents a fixed...

Accounting
1.2K views

Depreciation Methods Gruman Company purchased a machine for $198,000 on January 2, 2016. It made...

Accounting
1.2K views

Mathews Company is considering replacing equipment which originally cost $450,000 and which has $400,000 accumulated...

Accounting
1.2K views

Herman A. Baileys social security number is 456-12-3789. He is married but does not have...

Accounting
1.2K views

Q3. An insurance company has a life insurance policy, which have 10,000 clients, each client...

Accounting
1.2K views

Bubbas Western Wear is a western hat retailer in Lubbock, Texas. Although Bubbas carries numerous...