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 TypeSales PriceInvoice CostSales CommissionHigh-quality$1,550 $690 $110 Medium-quality 770 470 100 Three-quarters of the shop’s sales are medium-quality bikes. The shop’s annual fixed expenses are $209,250. (In the following requirements, ignore income taxes.) Required: Compute the unit contribution margin for each product type.What is the shop’s sales mix?Compute the weighted-average unit contribution margin, assuming a constant sales mix.What is the shop’s break-even sales volume in dollars? Assume a constant sales mix.How many bicycles of each type must be sold to earn a target net income of $101,250? Assume a constant sales mix.