Beamish inc., which produces a single product, has provided the following data for its most recent month of operations:

number of units produced 8,800 variable costs per unit:
direct materials $ 57 direct labor $ 41
variable manufacturing overhead $ 6
variable selling and administrative expense $ 10
fixed costs: fixed manufacturing overhead $ 299,200
fixed selling and administrative expense $ 651,200
there were no beginning or ending inventories.
the absorption costing unit product cost was:

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan