Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White,

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Gold Star Rice Limited Of Thailand Exports Thai Rice Throughout Asia The Company Grows Three Varieties Of Rice White 1 (198.15 KiB) Viewed 18 times

Gold Star Rice, Limited, of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, anc 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 Required 1 Product Fragrant 20% 100% $ 128,000 100% $ 204,800 dvdy 102,400 80% 70% $ 25,600 20% $ 92,160 Percentage of total sales White $ White 48% $ 307,200 0 92,160 $ 215,040 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Limited Contribution Income Statement 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. 30% % % 0% $ Dollar sales to break-even = Fixed expenses/CM ratio = $227,240/0.52 = $437,000 As shown by these data, net operating income is budgeted at $105,560 for the month and the estimated break-even sales is $437,000. Assume that actual sales for the month total $640,000 as planned; however, actual sales by product are: White, $204,800; Fragrant, $256,000; and Loonzain, $179,200. Fragrant % 0 Product % % 0% < Required 1 < Required 1 $ Loonzain Loonzain 112,640 0 32% % % 0% Required 2 > Required 2 > 100% $ 640,000 307,200 332,800 55% S 45% Total 0 Total 100% 0 227,240 $ 105,560 % Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount. Break-even point in dollar sales % 100% 48% 52% % 0%