Exercise 7-29 Retail; CVP Analysis with Multiple Products (LO 7-1, 7-2, 7-5) 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 $1,000 1,050 720 Sales Commission $100 30 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. X Answer is not complete. Complete this question by entering your answers in the tabs below