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: Sales Product Type Price High-quality $1,900 Medium- 1,050 quality Invoice Cost $1,000 Sales Commission $100 30 720 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. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the unit contribution margin for each product type. Unit Contribution Margin Bicycle Type High-quality Medium-quality 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 % % Required 1 Required 2 Required 3 Required 4 Required 5 Compute the weighted average unit contribution margin, assuming a constant sales mix. (Round your answer to 1 decimal place.) Weighted-average unit contribution margin 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. Break-even sales volume 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. Number of Bicycles Bicycle Type High-quality Medium-quality