$2\mathrm{.}2(12$ marks$)$ Cost$-$Volume$-$Profit Chapter $4$Regency Productions imprints calendars with college and university names.Thecompany has fixed expenses of $$1,045,000$ each month plus variable expenses of$$3\mathrm{.}90$ per carton of calendars.Of the variable expense, $66\%$ or $2/3$rds is cost ofgoods sold.The remaining $34\%$ relates to variable operating expenses.RegencyProductions sells each carton of calendars for $$11\mathrm{.}50.$Required:a$)$What is the break$-$even amount in number of cartons of calendars thatRegency must sell each month?b$)$What is the amount of monthly sales $($in dollars$)$ Regency needs in orderto earn a target income of $$275,000?($round the contribution margin ratioto two decimal places$).$c$)$Prepare Regency Productions Contribution Margin Income Statementfor the month of June, $2021$ for sales of $460,000$ cartons of calendars.d$)$What is Junes margin of safety $($in dollars$)?$ What is the operatingleverage factor at this level of sales?e$)$By what percentage will operating income change if Julys sales volumeis $10\%$ higher.Show details.