Check my work Tim's Bicycle Shop sells 21-speed bicycles. For purposes of a cost-volume-profit analysis, the shop owner has divided sales into two categories, as follows: Product Type High-quality Medium-quality Sales Price Invoice Cost $1,900 1,050 Sales Commission $1,000 $100 720 38 Three-quarters of the shop's sales are medium-quality bikes. The shop's annual fixed expenses are $229,500. (In the following requirements, ignore income taxes.) Required: 1. Compute the unit contribution margin for each product type. 2. What is the shop's sales mix? 3. Compute the weighted-average unit contribution margin, assuming a constant sales mix. 4. What is the shop's break-even sales volume in dollars? Assume a constant sales mix. 5. How many bicycles of each type must be sold to earn a target net income of $127,500? Assume a constant sales mix. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 5. How many bicycles of each type must be sold to earn a target net income of $127,500? Assume a constant sales mix. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Return to question Required 1 Required 2 Required 3 Required 4 Required 5 What is the shop's sales mix? Bicycle Type High-quality Medium-quality Sales Mix 75% 725 % < Previ 2 of 21 Next > 5. How many bicycles of each type must be sold to earn a target net income of $127,500? Assume a constant sales mix. Return to question Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the weighted-average unit contribution margin, assuming a constant sales mix. (Do not round intermediate calculations. Round your answer to 1 decimal place.) 675.0 Weighted-average unit contribution margin < Required 2 Required 4 > Next> 5. How many bicycles of each type must be sold to earn a target net income of $127,500? Assume a constant sales mix. Return to question Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 What is the shop's break-even sales volume in dollars? Assume a constant sales mix. (Do not round intermediate calculations.) Break-even sales volume 340 < Required 3 Required 5 > 5. How many bicycles of each type must be sold to earn a target net income of $127,500? Assume a constant sales mix. Return to question Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 How many bicycles of each type must be sold to earn a target net income of $127,500? Assume a constant sales mix. Bicycle Type Number of Bicycles High-quality Medium-quality 484,500 89,250