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...


Info in images


Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and<br>Loonzain. Budgeted sales by product and in total for the coming month are shown below:<br>Product<br>White<br>Fragrant<br>Loonzain<br>Total<br>Percentage of total sales<br>Sales<br>Variable expenses<br>48 %<br>20 %<br>32 %<br>100 %<br>$ 369,600<br>$ 154,000<br>$ 246,400<br>$ 770,000<br>369,600<br>100 %<br>100 %<br>100 %<br>100 %<br>110,880<br>30 %<br>123, 200<br>80 %<br>135,520<br>55 %<br>48 %<br>Contribution margin<br>$ 258,720<br>70 %<br>%24<br>30,800<br>20 %<br>$ 110,880<br>45 %<br>400,400<br>52 %<br>Fixed expenses<br>232,960<br>Net operating income<br>$ 167,440<br>Fixed expenses<br>$232,960<br>Dollar sales to break-even<br>= $448,000<br>CM ratio<br>0.52<br>As shown by these data, net operating income is budgeted at $167,44O for the month and the estimated break-even sales is $448,000.<br>Assume that actual sales for the month total $770,000 as planned; however, actual sales by product are: White, $246,400; Fragrant,<br>$308,000; and Loonzain, $215,600.<br>Required:<br>1. Prepare a contribution format income statement for the month based on the actual sales data.<br>2. Compute the break-even point in dollar sales for the month based on your actual data.<br>Complete this question by entering your answers in the tabs below.<br>Required 1<br>Required 2<br>Prepare a contribution format income statement for the month based on the actual sales data.<br>Gold Star Rice, Ltd.<br>Contribution Income Statement<br>Product<br>White<br>Fragrant<br>Loonzain<br>Total<br>Percentage of total sales<br>%<br>%<br>%<br>%<br>%<br>%<br>%<br>0 %<br>0 % $<br>0 %<br>0 %<br>Required 1<br>Required 2<br>Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate<br>calculations. Round your answer to the nearest whole dollar amount.)<br>Break-even point in dollar sales<br>

Extracted text: 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 Fragrant Loonzain Total Percentage of total sales Sales Variable expenses 48 % 20 % 32 % 100 % $ 369,600 $ 154,000 $ 246,400 $ 770,000 369,600 100 % 100 % 100 % 100 % 110,880 30 % 123, 200 80 % 135,520 55 % 48 % Contribution margin $ 258,720 70 % %24 30,800 20 % $ 110,880 45 % 400,400 52 % Fixed expenses 232,960 Net operating income $ 167,440 Fixed expenses $232,960 Dollar sales to break-even = $448,000 CM ratio 0.52 As shown by these data, net operating income is budgeted at $167,44O 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Ltd. Contribution Income Statement Product White Fragrant Loonzain Total Percentage of total sales % % % % % % % 0 % 0 % $ 0 % 0 % Required 1 Required 2 Compute the break-even point in dollar sales for the month based on your actual data. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales
Lindon Company is the exclusive distributor for an automotive product that sells for $52.00 per unit and has a CM ratio of 30%. The<br>company's fixed expenses are $366,600 per year. The company plans to sell 27,900 units this year.<br>Required:<br>1. What are the variable expenses per unit? (Round your

Extracted text: Lindon Company is the exclusive distributor for an automotive product that sells for $52.00 per unit and has a CM ratio of 30%. The company's fixed expenses are $366,600 per year. The company plans to sell 27,900 units this year. Required: 1. What are the variable expenses per unit? (Round your "per unit" answer to 2 decimal places.) 2. What is the break-even point in unit sales and in dollar sales? 3. What amount of unit sales and dollar sales is required to attain a target profit of $210,600 per year? 4. Assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $5.20 per unit. What is the company's new break-even point in unit sales and in dollar sales? What dollar sales is required to attain a target profit of $210,600? 1. Variable expense per unit 2. Break-even point in units Break-even point in dollar sales 3. Unit sales needed to attain target profit Dollar sales needed to attain target profit 4. New break-even point in unit sales New break-even point in dollar sales Dollar sales needed to attain target profit
Jun 09, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here