Gold Star Rice, Limited, of Thaland 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 Total Percentage of total sales Sales Varlahle expentes Contribution margin white 48X $ 312,000 91,600 $ 218, 400 Frageant 20k $ 130,000 104,000 $26,000 Loonzain 32% $200,000 114,400 $93,00 100% $ 650,000 312,000 100x 100% 100% 100 20k 330,000 Fixed expenses net operating Incone 224, 120 $ 11, 00 Dollar sales to break-even Foed expenses / CM ratio $224120 /052- $431,000 As shown by these data, net operating income is budgeted at $113.880 for the month and the estimated break even sales is $431,000. Assume that actual sales for the month total S650.000 as planned, however, actual sales by product are White, $208.000, Fragrant, $260,000, and Loonzain, $182.000. 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. Required 1 Reuired 2
Gold Star Rice, Limited, of Thaland 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 Total Percentage of total sales Sales Varlahle expentes Contribution margin white 48X $ 312,000 91,600 $ 218, 400 Frageant 20k $ 130,000 104,000 $26,000 Loonzain 32% $200,000 114,400 $93,00 100% $ 650,000 312,000 100x 100% 100% 100 20k 330,000 Fixed expenses net operating Incone 224, 120 $ 11, 00 Dollar sales to break-even Foed expenses / CM ratio $224120 /052- $431,000 As shown by these data, net operating income is budgeted at $113.880 for the month and the estimated break even sales is $431,000. Assume that actual sales for the month total S650.000 as planned, however, actual sales by product are White, $208.000, Fragrant, $260,000, and Loonzain, $182.000. 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. Required 1 Reuired 2
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 50E: Use the following information for Exercises 9-50 and 9-51: Assume that Stillwater Designs produces...
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