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 48% $ 355,200 106,560 $ 248,640 100% 30% 70% Product Fragrant 20% $ 148,000 118,400 $ 29,600 100% 80% 20% Loonzain 32% $ 236,800 130,240 $ 106,560 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. 100% 55% 45% Fixed expenses Net operating income Dollar sales to break-even = Fixed expenses/CM ratio = $230,880/0.52 = $444,000 As shown by these data, net operating income is budgeted at $153,920 for the month and the estimated break-even sales is $444,000. Total 100% $ 740,000 355, 200 $ 384,800 230,880 $ 153,920 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. 100% 48% 52%

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