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.

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 Product White 48 % Fragrant 20% Loonzain 32 % Total 100 % Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 307,200 92,160 $ 215,040 100 % 128,000 102,400 70 % 25,600 100 % 204,800 112,640 20% 92,160 100 % $. 640,000 100 % 30 % 80% 55 % 48 % 307,200 332,800 228,800 45 % 52 % $ 104,000 Fixed expenses$228,800 - Dollar sales to break-even $440,000 CM ratio 0.52 As shown by these data, net operating income is budgeted at $104,000 for the month and the estimated break-even sales is $440,000 Assume that actual sales for the month total $640,000 as planned. Actual sales by product are: White, $204,800; Fragrant, $256,000; and Loonzain, $179,200 Complete this question by entering your answers in the tabs below. Required Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Ltd Contribution Income Statement Product Fragrant White Loonzain Total Percentage of total sales Required 1Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales