Overhead expenses, combined with direct material and direct labor expenses, form the three components to the cost of any product or service that a small business might offer.
In 1871, an era of political machines and patronage, Arthur was named to the powerful position of customs collector for the Port of New York. He later was removed from the job by President Rutherford Hayes (1822-1893) in an attempt to reform the spoils system. Elected to the vice presidency in 1880, Arthur became president after Garfield died following an assassination attempt by a disgruntled job seeker.
(To the victor go the spoils.). In 1832, Jackson vetoed the bill to renew the charter of the Second Bank of the United States, the nationâs central bank. He believed the bank and those who controlled it had too much power and could ruin the country financially for their own gains.