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: Product White Loonzain Fragrant 20 % Total Percentage of total sales Sales 48 % $ 369,600 110,880 $ 258,720 32 % 100 % $ 154,000 123, 200 $ 246,400 135,520 $ 770,000 369,600 100 % 100 % 100 % 100 % Variable expenses 30 % 80 % 55 % 48 % Contribution margin 70 % 2$ 30,800 20 % $ 110,880 45 % 400,400 52 % Fixed expenses 232,960 Net operating income $ 167,440 Fixed expenses CM ratio $232,960 0.52 Dollar sales to break-even = $448,000 As shown by these data, net operating income is budgeted at $167,440 for the month and the estimated break-even sales is $448,000. Assume that actual sales for the month total $770,000 as planned; however, actual sales by product are: White, $246,400; Fragrant, $308,000; and Loonzain, $215,600. 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.