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 twc categorles, as follows: Sales Invoice Price $500 Sales Product Type High-quality Medium-quality 300 Cost Commission $275 $25 15 135 Three-quarters of the shop's sales are medium-quality bikes. The shop's annual fixed expenses are $65,000. (In the following requirements, ignore income taxes.) Requirec 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 $48,750? Assume a constant sales mix. Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 Required 4 Required 5 Compute the unit contribution margin for each product type. Bicycle Type High-quality Medium-quality in