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 Fixed expenses Net operating income White 48% $ 326,400 97,920 $ 228,480 Fragrant 20% 100% $ 136,000 30% 108,800 70% $ 27,200 Product Loonzain 32% 100% $ 217,600 80% 119,680 $ 97,920 20% Complete this question by entering your answers in the tabs below. 100% 55% 45% 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% $ 680,000 326,400 353,600 Dollar sales to break-even = Fixed expenses/CM ratio-$231,400/0.52= $445,000 As shown by these data, net operating income is budgeted at $122.200 for the month and the estimated break-even sales is $445,000. 231,400 $ 122,200 Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. 100% 48% 52%

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 Fixed expenses Net operating income White 48% $ 326,400 97,920 $ 228,480 Fragrant 20% 100% $ 136,000 30% 108,800 70% $ 27,200 Product Loonzain 32% 100% $ 217,600 80% 119,680 $ 97,920 20% Complete this question by entering your answers in the tabs below. 100% 55% 45% 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% $ 680,000 326,400 353,600 Dollar sales to break-even = Fixed expenses/CM ratio-$231,400/0.52= $445,000 As shown by these data, net operating income is budgeted at $122.200 for the month and the estimated break-even sales is $445,000. 231,400 $ 122,200 Assume that actual sales for the month total $680,000 as planned; however, actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. 100% 48% 52%

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 10CE: Coral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects...

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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 Fixed expenses Net operating income White 20% $ 150,000 108,000 $ 42,000 Fragrant 52% 100% $ 390,000 72% 28% $ 312,000 78,000 Required 1 Required 2 Product Loonzain 28% Complete this question by entering your answers in the tabs below. 100% $ 210,000 20% 84,000 80% $ 126,000 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. 100% 40% 60% Tota 100% 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.…
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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% Required 11 $ 302,400 90,720 $ 211,680 Required 21 100% 30% 70% Fragrant 20% $ 126,000 100,800 $ 25,200 Product Loonzain 329 100% $ 201,600 80% 110,880 20% $ 90,720 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. Complete this question by entering your answers in the tabs below. 100% 55% 45% Total 100% Fixed expenses Net operating income Dollar sales to break-even - Fixed expenses/CM ratio= $233,480/0.52-$449,000 As shown by these data, net operating income is budgeted at $94,120 for the month and the estimated break-even sales is $449,000.…
Gold Star Rice, Ltd., 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 Fixed expenses Net operating income Dollar sales to break-even = White 48 % $ 302,400 90,720 $ 211,680 Fixed expenses CM ratio = 100 % 30 % 70 % $ $ $232,440 0.52 Fragrant 20 % 126,000 100, 800 25, 200 Product 100 % 80 % 20 % = $447,000 Loonzain 32 % $ 201,600 110,880 90,720 100 % 55 % 45 % 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 % $ 630,000 302,400 327,600 232,440 95,160 $ 100 % 48 % 52 % As shown by these data, net operating income is budgeted at $95,160 for the month and the estimated break-even sales is $447,000. Assume that actual…
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 488 $ 355,200 106,560 $ 248,640 100% 30% 708 Fragrant 20% Required 1 Required 2 $ 148,000 118,400 $ 29,600 Product 100% 80% 20% Complete this question by entering your answers in the tabs below. Loonzain 328 $ 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% 458 Fixed expenses Net operating income Dollar sales to break-even = Fixed expenses / CM ratio = $226,720/0.52 = $436,000 As shown by these data, net operating income is budgeted at $158,080 for the month and the estimated break-even sales is $436,000. Total…
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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…