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Gold Star Rice, Ltd., 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:

CoursHeroTranscribedText: Gold Star Rice, Ltd. Contribution Income Statement Product White Fragrant Loonzain Total Percentage of total sales % % % % % % % % %% %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: Product white Fragrant Loonzein Total Percentage of total sales 43 % 20 1 32 % 100 % Sales $ 321,600 100 % $ 134,000 100 % $ 214,400 100 % $ 6?0,000 100 % Variable expenses 96,430 30 1 107,200 30 % 117,920 55 % 321,600 43 % Contribution margin $ 225,120 ?0 % $ 26,300 20 % $ 96,430 45 % 348,400 52 % Fixed expenses 231,920 Net operating income 5 116,430 Dollar sales to break-even - Fixed expenses - 5231'920 - $446,000 CM ratio 0.52 As shown by these data, net operating income is budgeted at $115,480 for the month and the estimated break-even sales is $445,000. Assume that actual sales for the month total $570,000 as planned. Actual sales by product are: White, $214,400; Fragrant, $258,000; and Loonzain. $181,500. 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

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