Butterfly Bags is a young brand that manufactures backpacks and messenger bags in Florida. Despite the company being only 5 years in the market, it has already become one of the competitive businesses with a growing profit. However, after COVID 19 the company's profit decreased dramatically compared to previous years. That is why the company decided to produce a unique product which will be demanding in a market and will bring higher profit. Butterfly Bag's design team made a new bag that includes a built-in power charge. These bags can be used to recharge the majority of smartphones and computers. The bags have become popular among people who are constantly on the move and travel a lot. The retail price of the new bag will be $229. The product is expected to be very popular. The company has identified the following options to manufacture the new bags: - Option A: Butterfly Bags outsources production of the new product to a third party at a cost of $180 per unit (including labor and materials). There is negligible fixed cost if the bag is produced by a third party. - Option B: Butterfly Bags makes the product in house, at $120 per unit (including labor and materials). The company has to acquire additional sewing machines at a cost of $60,000 to produce the new product at its existing facility. - Option C: Butterfly Bags refurbishes one of its storage facilities with entirely new technology. The company purchases numerically-controlled machines to manufacture the bags at $70 per unit (including labor and materials). This option has a fixed cost of $220,000. a) Determine the range of production volume which makes Option A the lowest-cost option. b) Determine the range of production volume which makes Option B the lowest-cost option. c) Determine the range of production volume which makes Option C the lowest-cost option