Please do not give solution in image format thanku Problem 5-21 (Static) Sales Mix; Multiproduct Break-Even Analysis [LO5-9]Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, andLoonzain. Budgeted sales by product and in total for the coming month are shown below:Percentage of total salesSalesVariable expensesContribution marginFixed expensesNet operating income.White20%$ 150,000108,000$ 42,000Required 1100%72%28%Required 2Fragrant52%$ 390,00078,000$ 312,000Complete this question by entering your answers in the tabs below.Product100%20%80%$ 210,00084,000$ 126,000Required: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.Loonzain28%4Dollar sales to break-even = Fixed expenses / CM ratio = $449,280 / 0.64 = $702,000As shown by these data, net operating income is budgeted at $30,720 for the month and the estimated break-even sales is $702,000.Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $300,000; Fragrant,$180,000; and Loonzain, $270,000.entribution format income statement for the month based on the actual sales data.Total100%.100% $750,00040%60%270,000480,000449,280$ 30,720100%36%64%

Contribution margin is the difference between the sales and the variable cost and thus it…

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 20% $ 150,000 108,000 $ 42,000 100% 72% 28% Fragrant 52% $ 390,000 78,000 $ 312,000 Product 100% 20% 80% Loonzain 28% $ 210,000 84,000 $ 126,000 100% 40% 60% 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. Total 100%. $750,000 270,000 480,000 449,280 $ 30,720 100% 36% 64% Fixed expenses Net operating income Dollar sales to break-even = Fixed expenses/CM ratio = $449,280/0.64 = $702,000 As shown by these data, net operating income is budgeted at $30,720 for the month and the estimated break-even sales is $702,000. Assume that actual sales for the month total $750,000 as planned; however, actual sales by product are: White, $300,000; Fragrant, $180,000; and Loonzain, $270,000.