$1.$ 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.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 $\frac{?}{CM}$ ratio $=$$$449,\frac{280}{0\mathrm{.}64}=$$$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 that 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.

$2$ 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 $2$

Prepare a contribution format income statement for the month based on the actual sales data.