please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) 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:ProductPercentage of total salesSalesVariable expensesContribution marginiFixed expensesNet operating incomeWhite20%$ 150,000108,000$ 42,000100%72%28%Fragrant52%$390,00078,000$ 312,000Loonzain28%100% $210,00020%84,000$126,00080%100%40%60%Required:1. Prepare a contribution format income statement for the month based on the actual sales data.2. Compute the break-even point in dollar sales for the month based on your actual data.Total100%$ 750,000270,000480,000449,288$ 30,720100%36%64%Dollar 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 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.

CVP analysis, or cost-volume-profit analysis, is a management accounting technique used to analyze…

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. Product Percentage of total sales Sales Variable expenses Contribution margin White 20% $ 150,000 108,000 $ 42,000 Fragrant 52% 100% $ 390,000 72% 78,000 28% $ 312,000 Loonzain 28% 100% $ 210,000 20 % 84,000 80% $ 126,000 Total 100% 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% $750,000 48% 270,000 60% 480,000 449,288 $ 30,720 100% 364 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 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.

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. Product Percentage of total sales Sales Variable expenses Contribution margin White 20% $ 150,000 108,000 $ 42,000 Fragrant 52% 100% $ 390,000 72% 78,000 28% $ 312,000 Loonzain 28% 100% $ 210,000 20 % 84,000 80% $ 126,000 Total 100% 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% $750,000 48% 270,000 60% 480,000 449,288 $ 30,720 100% 364 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 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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