The Cost of Producing Wine at Only a Small Fraction of the Price

Based on Dana Nigro, “What’s Behind the Bottle Price?” Wine Spectator, December 15, 2002:50–56.

Most consumer goods are not sold by the manufacturer. Instead, they are produced by the manufacturer, who sells to a wholesaler, who in turn sells to a retailer, who sells to the public. Such is the case with most wine.

There has been an outcry in recent years over increases wine in prices. Although prices have risen sharply, the multilevel market structure and the markup that occurs at the wholesale and retail levels have a much larger role in the price increases than the production of the wine itself. Total production costs for a typical $24 bottle of wine are just $4.92, or about 20.4% of the final price, whereas wholesale and retail markups together make up 40% of the final price. Not surprisingly, raw materials (grapes) are the single biggest cost. The cost of the grapes may be as much as 60% of total production costs but varies greatly from lower-quality inexpensive wines to the highest quality wines. The second-highest cost for many vintners is the barrels used to ferment the wine. French oak barrels cost as much as $700 apiece and last only a few years. The other major production cost, other than the actual physical plant where the winemaking occurs, is time. Quality wines spend 2–2 ½ years aging in barrels and then an additional 8 months in bottles before being ready for sale.

1. How much substitutability do you suppose exists between inputs in winemaking? How might this factor affect efforts to cut costs?
2. If a firm were to find a new technology that cut the required aging time in half, how would it affect the demand for other inputs?

Revise the following passage, correcting any grammatical and punctuation errors present. Indicate the
corrected parts in your answer by writing them in bold red text.
In the 1970s, market researchers discovered that the most young children were unable to tell the difference
between the television shows they watched and advertisements for products. Because of this discovery, it was
an attempt in 1978 to put legal restrictions on television advertisements aimed at too young children, but
advertisers objected. The industry of marketing to children has being growing steadily since then. Between
1978 and 1998, the amount of money directly spent by children age four to twelve increased from less than
three billion dollars a year to almost twenty-five billion dollars, and is not end in sight. Researchers believe that
children in that age group also convince their families to spend another two hundred billion dollars a year—
such as when a young boy, for example, convinces her mother to purchase a more expensive computer than
she might otherwise have bought. Marketers are easy to decide to target this young market—there is their job
to aim at consumers who can be convinced and who will spend most money.
However, few other groups have also helped marketers figure out the best way to target a too young
audience. Many child psychologists are now been asked to join market-research firms to provide information
about how to reach children more effectively. Some members of the American Psychological Association
lobbied their organization in 2002 to discipline APA members who have helped advertisers target children, but
the APA has no taken action yet. The most psychologists feel that the marketers and their advisers have being
allowed very much freedom to appeal to children who cannot make informed decisions about products, but
the situation does no seem likely to change.

The balance sheet at December 31, 2021, for Nevada Harvester Corporation includes the liabilities listed below:

1. 11% bonds with a face amount of $38 million were issued for $38 million on October 31, 2012. The bonds mature on October 31, 2032. Bondholders have the option of calling (demanding payment on) the bonds on October 31, 2022, at a redemption price of $38 million. Market conditions are such that the call is not expected to be exercised.
2. Management intended to refinance $10.5 million of its 9% notes that mature in May 2022. In early March, prior to the actual issuance of the 2021 financial statements, Nevada Harvester negotiated a line of credit with a commercial bank for up to $4.5 million any time during 2022. Any borrowings will mature two years from the date of borrowing.
3. Noncallable 12% bonds with a face amount of $15.5 million were issued for $15.5 million on September 30, 2002. The bonds mature on September 30, 2022. Sufficient cash is expected to be available to retire the bonds at maturity.
4. A $26 million 7% bank loan is payable on October 31, 2027. The bank has the right to demand payment after any fiscal year-end in which Nevada Harvester’s ratio of current assets to current liabilities falls below a contractual minimum of 1.7 to 1 and remains so for six months. That ratio was 1.45 on December 31, 2021, due primarily to an intentional temporary decline in inventory levels. Normal inventory levels will be reestablished during the first quarter of 2022.

Required:
1. For each liability listed above, what amount will be reported as a current liability and as a noncurrent liability on the December 31, 2021 balance sheet?
2. Prepare the liability section of a classified balance sheet for Nevada Harvester at December 31, 2021. Accounts payable and accruals are $19 million.
  

Abstract 2. Mann JR and McDermott S. Are maternal genitourinary infection and pre-eclampsia associated with ADHD in school-aged children? J Atten Disord 2011;15(8):667-73.

OBJECTIVE: To investigate the hypothesis that maternal genitourinary infection (GU) infection is associated with increased risk of ADHD. METHOD: The authors obtained linked Medicaid billing data for pregnant women and their children in South Carolina, with births from 1996 through 2002 and follow-up data through 2008. Maternal GU infections and pre-eclampsia were identified on the basis of diagnoses made during pregnancy, and cases of ADHD were identified on the basis of diagnoses made in the child's Medicaid file. RESULTS: There were 84,721 children in the data set used for analyses. Maternal genitourinary infection was associated with significantly increased odds of ADHD (OR = 1.29, 95% CI = 1.23-1.35). Pre-eclampsia was also associated with increased risk (OR = 1.19, 95% CI = 1.07-1.32). Children whose mothers had both GU infection and pre-eclampsia were 53% more likely to have ADHD, compared to those with neither exposure. When we examined specific infection diagnoses, chlamydia/nongonococcal urethritis, trichomoniasis, urinary tract infection, and candidiasis were associated with increased risk of ADHD, whereas gonorrhea was not. DISCUSSION: Maternal GU infection appeared to be associated with increased risk of ADHD, and based on the findings it was concluded that further research is needed to describe the mechanism(s) underlying the association.

The authors report “pre-eclampsia was also associated with increased risk (OR=1.19, 95% CI=1.07-1.32” of ADHD. Based only on this statement, which of the following is most likely NOT responsible for this observed result?

***IN C++***

Create student structure with the following fields:



Name (cstring or null-terminated character array)



Student ID (int – unique random value between 1000 and 9999)



grade (char – Values A thru F)



birthday (myDate – random value: range 1/1/2000 to 12/31/2005)



Home Town (string)

Create an array of pointers to students of size 10.

Example: Student *stuPtr[10];

Write a function that populates the array with 10 students.

Example: populate(stuPtr);

Write a display function that displays the contents of the array on the screen as shown below –

nicely formatted and left justified.

The displayed list should be nicely formatted with column names like this: All columns should

be left-justified.

Name

Student ID

Grade

Birthday

Home Town

Tom Thumb

1002

C

January 1, 2002

Small Ville

Fred Flintstone

1995

D

February 3, 2003

Bedrock

Sponge Bob

2987

B

June 3, 2001

Bikini Bottom

Create a menu that shows the following options:

1)

Display list sorted by Name

2)

Display list sorted by Student ID

3)

Display list sorted by Grade

4)

Display list sorted by Birthday

5)

Display list sorted by Home Town

6)

Exit

You need to write a sorting function for each of the menu items – 5 options needs 5 functions.

Note:

You must create a function that returns a date between a range of 2 dates.

You will use the myDate class in this program – you will not create any other class. The Student

structure is NOT a class.

Take advantage of your myDate class that you just wrote. Also, it might be helpful to create a

new function that returns a string for the date format:

string myDate::toString( );

C++ Only

Create a function named PrintStudents, which takes a string input filename and an integer minimum score value and a string output file name as a parameters. The function will read the student scores and names from the file and output the names of the students with scores greater than or equal to the value given. This function returns the integer number of entries read from the file. If the input file cannot be opened, return -1 and do not print anything to the file.

Read each line from the given filename, parse the data, process the data, and write the required information to the file.

Each line of the file contains <FIRST-NAME LAST-NAME>, <SCORE>, <SUBJECT> . Read and parse the data, then write to the output file the names and classes for scores matching the criteria.

Example: With the following data and value of 80:

Constance Shelton, 67, APPM 2002
Charlotte Edwards, 85, CSCI 1300
Alyssa Hill, 78, MATH 1000
Pat Owens, 75, HUMN 1342
Shannon Jimenez, 96, LING 2000
Kristen Swanson, 80, PSYC 1001
Jim Schwartz, 60, CVEN 3241

Your function should return 7 and output to the file should contain:

Charlotte Edwards, CSCI 1300
Shannon Jimenez, LING 200
Kristen Swanson, PSYC 1001

You only need to write the function code for PrintStudents. The split() function is provided, and functions as it does in the homework assignments, to make parsing the output easier. Recall that split takes a string s and splits it at the input delimiter sep, to fill the array words[] up to a capacity of max_words. The return value of split is the number of actual words the string is split into.

int split(string s, char sep, string words[], int max_words);

Case Study – Psychology and Motivation

Read the following case study and answer the questions that follow:-

Jennifer was diagnosed with dyslexia at the end of her first year of studying for a psychology degree. It has an impact on her ability to read journal articles and other text, do statistics, read, and take down numbers from slides. Despite these difficulties she’s just started a PhD in psychology, having obtained an excellent undergraduate degree through extremely hard work and determination: “Little did they know that I worked up until 3-4 in the morning on many occasions, as it would sometimes take me ages to read through some of the journals I was using”. However, additional understanding and support from academic and support staff could have made the process much less stressful.

She found that, while some lecturers wanted to do everything for her when she revealed that she had dyslexia, others thought it meant she was unable to do statistics or needed a great deal of extra support. However, in many cases all that was required was something relatively minor – for example, to have information on a handout so that she wouldn’t be required to take down material from a slide. Unfortunately, with some academic staff this requirement just didn’t seem to sink in, meaning that Jennifer would have to keep repeating her request, which was quite embarrassing in front of the rest of the class.

Although she passed the statistics module, Jennifer had great difficulty with the subject area. “The only way I got through it was by going back to basics in terms of having to work out equations by hand – it was the only way I was going to grasp the concepts, and I had to pay for extra tuition as the amount of time allotted for statistics wasn’t enough,” she explains. Whilst her department made some attempt to assist all students with statistical difficulties, putting on extra statistics classes for students with dyslexia, the person who took these was not very approachable and appeared to just run through the same notes used in lectures, thereby undercutting what potentially could have been a useful support mechanism.

Alternative examination arrangements have been made for Jennifer, such as extra time, and a separate room. However, recently the disability unit has not been so helpful, with one staff member commenting that she couldn’t see why Jennifer would want a top-up assessment, given that she had managed to get a first in her undergraduate degree.

There was also a breakdown of communication between the disability unit and lecturing staff, with one lecturer not knowing that alternative examination arrangements had been made for Jennifer and other disabled students in her class. Rather than waiting for the students to return to the lecture hall after their in-class assessment, he started the second part of the lecture and publicly reprimanded Jennifer for being late, which caused her much embarrassment.

Jennifer states: “It did surprise me that there were a few psychology lecturers who didn’t seem to have any understanding of dyslexia. Thankfully the majority of the department had an understanding, but those few who are not can make things very difficult for someone like myself”.

Questions

1.      Utilizing the model of motivation explain the process that Jennifer went through in the case study.

2.      What category of motives drove Jennifer in the case study?

3.      Explain Maslow’s Hierarchy of needs and state what need(s) Jennifer sought to meet in accordance with the basic needs pyramid.

4.      Was Jennifer extrinsically or extrinsically motivated based on the case study? Give three reasons based on the case study.

5.      What challenges did Jennifer face, that sought to challenge her motivation?

Looking at the core principles of money and banking (chapter 1), if more students defaulted on their student loans, we would expect
   A.   student loans to be easier to obtain.
   B.   more students to attend college.
   C.   student loan interest rates to rise.
   D.   all of the above.

Suppose that an Oswego student sets aside earinging from her summer job in a savings accounts in order to buy books in the Fall. In this case the money in the account is functioning as a
   A.   means of payment
   B.   unit of account
   C.   store of value

Financial instruments
   A.   are used soley as a store of value
   B.   are used soley as a way to transfer risk
   C.   can function as a means of payment, store of value or a way to transfer risk.
   D.   cannot function as a means of payment

As people shift their money from checking accounts to savings accounts, we would see
   A.   M1 fall and M2 rise
   B.   M1 rise and M2 fall
   C.   both M1 and M2 rise
   D.   M1 fall while M2 remains unchanged

Commodity money
   A.   has no intrinsic value
   B.   has value as a good even if it is not used for money.
   C.   can only be valued if it contains gold.
   D.   has value only by government decree.

Which of the following statements about financial markets is true?
   A.   Financial markets convey important information about the value of a security.
   B.   Financial markets raise the cost of trading with financial intermediaries.
   C.   Financial markets are only classified on the basis of their size.
   D.   Financial markets are a good example of unregulated markets.

When Google first offered its stock for sale to the public (its initial public offering or IPO) in April 2004 this took place in the
   A.   the primary market.
   B.   the secondary market.
   C.   the debt market.
   D.   the money market.

A regression model to predict Y, the state-by-state 2005 burglary crime rate per 100,000 people, used the following four state predictors: X₁ = median age in 2005, X₂ = number of 2005 bankruptcies per 1,000 people, X₃ = 2004 federal expenditures per capita, and X₄ = 2005 high school graduation percentage.

(a) Write the fitted regression equation. (Round your answers to 4 decimal places. Negative values should be indicated by a minus sign.)

yˆy^ =  +  AgeMed +  Bankrupt +  FedSpend +  HSGrad%

(b-1) The 2005 state-by-state crime rate per 100,000

(b-2) The 2005 state-by-state crime rate per 100,000    

(b-3) The 2005 state-by-state crime rate per 100,000           

(b-4) The 2005 state-by-state crime rate per 100,000      

(c) Would the intercept seem to have meaning in this regression?

(d) Make a prediction for Burglary when X₁= 34 years, X₂= 7.2 bankruptcies per 1,000, X₃= $5,044, and X₄= 84 percent.

Burglary Rate

rev: 09_26_2016_QC_CS-62964, 09_20_2017_QC_CS-101173

Corporate tax return problem-Custom Designs, Inc. (CDI)

Tammy Adams and Fernando Hernandez each own 50% of Custom Designs, Inc. (CDI). On May 6, 2004, they formed CDI to provide architectural services. CDI’s information is summarized as follows:

• CDI’ s business address is 2120 Adobe Drive, Las Cruces, NM 88011; its employer identification number is 11-1111111, and the principal business activity code is 541310.

CDI’s financial statement for 2019 is show below:

During 2019, CDI made estimated tax payment of $10,000 each quarter to the IRS. Prepare a Form 1120 page 1 and schedule M-1 on page 6 for CDI for tax year 2019 (Check your figure: Taxable income: $168220)

Also: report dividend income of $24000 on line 4 and do not forget report DRD of $10000 on line 29b