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Gold Star Rice, Ltd., of Thailand exports Thal rice throughout Asia. The company grows three...

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Accounting

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Gold Star Rice, Ltd., 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 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income 331,200 99,360 $ 231,840 1001 300 7 01 Product Fragrant 203 $ 138,000 1001 110,400 801 $ 27.600 201 Loonzain 323 $ 220, 800 1001 121,440 558 $ 99,360 456 Total 1000 $690.000 331,200 358.800 230,880 $ 127,920 1001 488 52 Dollar sales to break even axed expenses CM ratio $210.880 . As shown by these asta, net operating income is budgeted at $127.920 for the month and the estimated break-even sales is $444,000. Assume that actual sales for the month total $690,000 as planned. Actual sales by product are: White, $220,800; Fragrant. $276.000; and Loonzain. $193,200. 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

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