Please do not give solution in image format thanku 1Gold Star Rice, Ltd., 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 marginFixed expensesNet operating incomeWhite481$ 340,800102,240$ 238,560rixed expensesCM ratioFragrant201100 $ 142,00030113,60070% $28,400$227,240 - $437,0000.52100 $227,200 100801 124,960 5520 % $ 102,24045Loonzain32Complete this question by entering your answers in the tabs below.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.Required 1 Required 2Prepare a contribution format income statement for the month based on the actual sales data.Total100$ 710,000340,800369,200227,240$ 141,960Dollar sales to break-evenAs shown by these data, net operating income is budgeted at $141,960 for the month and the estimated break-even sales is $437,000.Assume that actual sales for the month total $710,000 as planned. Actual sales by product are: White, $227,200; Fragrant, $284,000;and Loonzain, $198,800.10048 152 Vwwwwww1. 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.Required 1 Required 2Prepare a contribution format income statement for the month based on the actual sales data.Gold Star Rice, Ltd.Contribution Income StatementProductFragrant%Percentage of total salesDollar sales to break-evenWhite%%%%Required 1Fixed expensesCM ratioBreak-even point in dollar sales-%%%Required t$227,2400.52< Required 1<-$437,000Complete this question by entering your answers in the tabs below.Loonzain%0Required: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.%%%Required 2 >As shown by these data, net operating income is budgeted at $141,960 for the month and the estimated break-even sales is $437,000.Assume that actual sales for the month total $710,000 as planned. Actual sales by product are: White, $227,200; Fragrant, $284,000;and Loonzain, $198,800.TotalRequired 2Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to the nearestwhole dollar amount.)%%

The contribution margin is calculated as the difference between the sales and contribution margin.…

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 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 481 $ 340,800 102,240 $ 238,560 rised expenses CM ratio mured? 100 30 70 Fragrant 20 % $227,240 0.52 $ 142,000 100 $227,200 100 113,600 80% $28,400 124,960 20 % $ 102,240 55 45 Loonzain 32 -$437,000 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. Complete this question by entering your answers in the tabs below. Dollar sales to break-even As shown by these data, net operating income is budgeted at $141,960 for the month and the estimated break-even sales is $437,000. Assume that actual sales for the month total $710,000 as planned. Actual sales by product are: White, $227,200; Fragrant, $284,000; and Loonzain, $198,800. Total 100 $ 710,000 340,800 369,200 227,240 $ 141,960 100 481 52

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 Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 481 $ 340,800 102,240 $ 238,560 rised expenses CM ratio mured? 100 30 70 Fragrant 20 % $227,240 0.52 $ 142,000 100 $227,200 100 113,600 80% $28,400 124,960 20 % $ 102,240 55 45 Loonzain 32 -$437,000 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. Complete this question by entering your answers in the tabs below. Dollar sales to break-even As shown by these data, net operating income is budgeted at $141,960 for the month and the estimated break-even sales is $437,000. Assume that actual sales for the month total $710,000 as planned. Actual sales by product are: White, $227,200; Fragrant, $284,000; and Loonzain, $198,800. Total 100 $ 710,000 340,800 369,200 227,240 $ 141,960 100 481 52

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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