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 = $225,160/0.52= $433,000 As shown by these data, net operating income is budgeted at $159,640 for the month and the estimated break-even sales is $433,000. Total 100% $740,000 355,200 $384,800 225,160 $ 159,640 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. 100⁹ 48⁹ 52⁹

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 = $225,160/0.52= $433,000 As shown by these data, net operating income is budgeted at $159,640 for the month and the estimated break-even sales is $433,000. Total 100% $740,000 355,200 $384,800 225,160 $ 159,640 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. 100⁹ 48⁹ 52⁹

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

I need answer typing clear urjent no chatgpt used i will give upvotes
Required information [The following information applies to the questions displayed below.] Consider the following narrative describing the process of filling a customer's order at a Starbucks branch: Identify the start and end events and the activities in the following narrative, and then draw the business process model using BPMN: the Starbucks customer entered the drive-through lane and stopped to review the menu. He then ordered a Venti coffee of the day and a blueberry muffin from the barista. The barista recorded the order in the cash register. While the customer drove to the window, the barista filled a Venti cup with coffee, put a lid on it, and retrieved the muffin from the pastry case and placed it in a bag. The barista handed the bag with the muffin and the hot coffee to the customer. The customer has an option to pay with cash, credit card, or Starbucks gift card. The customer paid with a gift card. The barista recorded the payment and returned the card along with the…
Differentiate between letters, memo and report?
how do you calculat mpg in excel?
All blanks need to be filled please and thank you, it's incomplete as of now.
Can you use excel to do the data please.
How do you make a two-dimensional columnar chart in excel?
subject:accunting information system. Q: explainDocument flowcharts and give two examples.
Write a about memorandum message
Read and interpret abalance sheet.
look at the image to solve the question