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k: Ch 5(i Help Save & Exit Gold Star Rice, Limited, of Thailand...

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Accounting

k: Ch 5(i
Help
Save & Exit
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 =$230,3600.52=$443,000
As shown by these data, net operating income is budgeted at $128,440 for the month and the estimated break-even sales $443,000.
Assume that actual sales for the month total $690,000 as planned; however, actual sales by product are: White, $220,800; Fragrant, $276,000; and Loonzain, $193,200.
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.
Gold Star Rice, Limited
Contribution Income Statement
Product
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