Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gold star rice, limited, of thailand exports thai

Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three...

90.2K

Verified Solution

Question

Accounting

Gold Star Rice, Limited, 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 Loonzain Total Percentage of total sales 48% 20% 32% 100% Sales $ 355,200 100% $ 148,000 100% $ 236,800 100% $ 740,000 100% Variable expenses 106,560 30% 118,400 80% 130,240 55% 355,200 48% Contribution margin $ 248,640 70% $ 29,600 20% $ 106,560 45% 384,800 52% Fixed expenses 232,440 Net operating income $ 152,360 Dollar sales to break-even = Fixed expenses / CM ratio = $232,440 / 0.52 = $447,000 As shown by these data, net operating income is budgeted at $152,360 for the month and the estimated break-even sales is $447,000. Assume that actual sales for the month total $740,000 as planned; however, actual sales by product are: White, $236,800; Fragrant, $296,000; and Loonzain, $207,200. 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

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Choose the answer that best describes the graph B 6 O increasing O decreasing constant...

Geometry
Q

A stock will provide a rate of return of either ?20% or 30%. If both possibilities...

Finance
Q

Explain how the Internet has affected the average fixed cost of a daily print newspaper.

Economics
Q

alect people from Pennsylvania often use terms that are unique to their state or even...

Biology
Q

Example 6 5 A 10 g block placed on a rough horizontal floor being pulled...

Physics
Q

11 Which of the following could be a possible equation for a circle with a...

Geometry
Q

3 If EF is rotated about point C then which of the following segment pairs...

Geometry
Q

The mean number of text messages sent per month by customers of a cell phone...

Statistics
Q

The management of Unter Corporation, an architectural design firm, is considering...

Accounting
Q

Perit Industries has $135,000 to invest. The company is trying to decide between two alternative...

Accounting
Q

Requlred Informetlon [The following information applies to the questions displayed below. Reba Dixon is a...

Accounting
Q

10 rt 2 of 4 2 nts eBook Print References A palance in the actory...

Accounting