What is the operating leverage factor at this level of sales? Begin by determining the formula.

Contribution margin

Operating income

Operating leverage factor

$($Round the operating leverage factor to three decimal places.$)$

The operating leverage factor is

Requirement $5.$ By what percentage will operating income change if July's sales volume is $15\%$ higher? Prove your answer. $($Round the percentage to two decimal places.$)$

If volume increases $15\%,$ then operating income will increase

$21\mathrm{.}45\%.$

Prove your answer. $($Round the percentage to two decimal places.$)$

Original volume $($cartons$)$

Add: Increase in volume

New volume $($cartons$)$

Multiplied by: Unit contribution margin

New total contribution margin

Less: Fixed expenses

New operating income

vs$.$ Operating income before change in volume

Increase in operating income

Percentage change Try Spirit Calendars imprints calendars with college names. The company has fixed expenses of $ $1$ comma $095$ comma $000$ each month plus variable expenses of $ $4\mathrm{.}00$ per carton of calendars. Of the variable$$ expense, $68\%$ is cost of goods$$ sold, while the remaining $32\%$ relates to variable operating expenses. The company sells each carton of calendars for $ $12\mathrm{.}00.$

$1.$Compute the number of cartons of calendars that Try Spirit Calendars must sell each month to break even.$$

$2.$Compute the dollar amount of monthly sales that the company needs in order to earn $ $312$ comma $000$ in operating income$($round the contribution margin ratio to two decimal$$ places$).$

$3.$Prepare the$$ company's contribution margin income statement for June for sales of $455$ comma $000$ cartons of calendars.

$4.$What is$$ June's margin of safety$($in dollars$)?$ What is the operating leverage factor at this level of$$ sales?

$5.$By what percentage will operating income change if$$ July's sales volume is $15\%$higher$?$ Prove your answer.

$($need help with part $5)$