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 Thal 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: White 48% $ 340,8ee 102,240 $ 238,560 100% 30% Fragrant 20% $ 142,900 113,600 $ 28,400 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income Product Loonzain 32% 100% $ 227,200 80% 124,960 20% $ 192,240 100% 55% Total 100% $ 719,000 348,888 369,200 228,280 100% 48% 70% 45% 52% $ 140, 920 Dollar sales to break-even = Fixed expenses / CM ratio = $228,280/0.52 = $439,000 As shown by these data, net operating Income is budgeted at $140,920 for the month and the estimated break-even sales is $439,000 Assume that actual sales for the month total $710,000 as planned; however, actual sales by product are: White, $227,200; Fragrant, $284,000; and Loonzain, $198,800. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Limited Contribution Income Statement Product Fragrant White Loonzain Total Percentage of total sales %6 96 % %6 96 % %6 96 % S 0 % s 0 0 % $ 0 0 % 0 0 % S 0 Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales