Homework Help is Here – Start Your Trial Now!
Business
Accounting
02:06:01 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. Percentage of total sales Sales Variable expenses Contribution margin White 40% $ 355,200 106,560 $248,640 Fragrant 20% 100% 140,000 30% 118,400 20% $29,600 Product Loonsain 32% 100% 80% $236.000 130,240 20% $106,560 Complete this question by entering your answers in the tabs below. Fixed expenses Net operating income 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. 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. DUTAL 2009 55% 100% $ 240,000 355,200 384,900 232,440 45% 3352.360 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 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.) Breaktiven point in dollar sales LOON 43% 325

02:06:01 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. Percentage of total sales Sales Variable expenses Contribution margin White 40% $ 355,200 106,560 $248,640 Fragrant 20% 100% 140,000 30% 118,400 20% $29,600 Product Loonsain 32% 100% 80% $236.000 130,240 20% $106,560 Complete this question by entering your answers in the tabs below. Fixed expenses Net operating income 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. 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. DUTAL 2009 55% 100% $ 240,000 355,200 384,900 232,440 45% 3352.360 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 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.) Breaktiven point in dollar sales LOON 43% 325

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
icon
Concept explainers
Question
02:06:01 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. Produce Percentage of total sales Sales Variable expenses Contribution margin White 40% $.355,200 106,560 $ 246,640 Fragrant 20% 100% 30% 20% $29,600 140,000 118,400 Loonsain 32% 100% 80% $236.000 130,240 20% $106,560 Complete this question by entering your answers in the tabs below. Fixed expenses Net operating income 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. 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. Dutal 100% 100% $ 240,000 55% 45% 355,200 384,900 232,440 3 152,360 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 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.) Breakstven point in dollar salos LOON 43% 325
Transcribed Image Text:02:06:01 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. Produce Percentage of total sales Sales Variable expenses Contribution margin White 40% $.355,200 106,560 $ 246,640 Fragrant 20% 100% 30% 20% $29,600 140,000 118,400 Loonsain 32% 100% 80% $236.000 130,240 20% $106,560 Complete this question by entering your answers in the tabs below. Fixed expenses Net operating income 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. 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. Dutal 100% 100% $ 240,000 55% 45% 355,200 384,900 232,440 3 152,360 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 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.) Breakstven point in dollar salos LOON 43% 325
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Budgeting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS