The PC Works assembles custom computers from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a single facility in a Redmond, Washington, industrial park. Listed below are some of the costs that are incurred at the company. Required:
For each cost, indicate whether it would most likely be classified as direct labor, direct materials, manufacturing overhead, selling, or an administrative cost. (You may select more than one answer. Boxes left with question marks will be graded as incorrect.)
1. cost of hard drive installed on computer: Direct materials cost
2. the cost of advertising in the Puget Sound computer user newspaper: marketing and selling cost
3. the wages of employees who assmble computers from components: direct labor cost
4. sales commissions paid to the company's salespeople: marketing and selling cost
5. the wages of the assembly shop's supervisor: manufacturing overhead cost
6. the wages of the company's accountant: administrative cost
7 depreciation on equipment used to test assembled computers before release to customers: manufacturing overhead cost
8. rent on the facility in the industrial park: manufacturing overhead cost, marketing and selling cost, administrative cost

Selected information about income statement accounts for the reed company is presented below (the company's fiscal year ends on december 31): 2018 2017sales $ 4,400,000 $ 3,500,000cost of goods sold 2,860,000 2,000,000administrative expenses 800,000 675,000selling expenses 360,000 312,000interest revenue 150,000 140,000interest expense 200,000 200,000loss on sale of assets of discontinued component 50,000 —on july 1, 2018, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by gaap. the assets of the component were sold on september 30, 2018, for $50,000 less than their book value. results of operations for the component (included in the above account balances) were as follows: 1/1/18-9/30/18 2017 sales $ 400,000 $ 500,000 cost of goods sold (290,000 ) (320,000 )administrative expenses (50,000 ) (40,000 )selling expenses (20,000 ) (30,000 )operating income before taxes $ 40,000 $ 110,000 in addition to the account balances above, several events occurred during 2018 that have not yet been reflected in the above accounts: a fire caused $50,000 in uninsured damages to the main office building. the fire was considered to be an infrequent but not unusual event.inventory that had cost $40,000 had become obsolete because a competitor introduced a better product. the inventory was sold as scrap for $5,000.income taxes have not yet been recorded.required: prepare a multiple-step income statement for the reed company for 2018, showing 2017 information in comparative format, including income taxes computed at 40% and eps disclosures assuming 300,000 shares of common stock. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Tariffs and quotas are often imposed when a government is more responsive to interests, and the benefits of those trade restrictions are often ; concentrated producer; widely dispersed consumer; widely dispersed consumer; concentrated

How is the role of government determined in the american free enterprise system?