The total cost incurred to manufacture goods and transfer them into finished goods inventory for retail sale is known as COGM, as the name suggests.
The COGM calculation formula is as follows:
Substitute: Direct Materials Used
Complement: Direct Labor Used
Cost of manufacturing added
Start the Work in Process (WIP) Inventory, please
Taking Work in Process (WIP) Inventory to Zero
= COGM
In a T-account, this can be observed more obviously. Let's take the following costs as an example, which a bakery manufacturer may incur:
$100k in direct materials
Labor Direct: $50,000
Manufacturing Overhead: $60,000
WIP inventory starting point: $10,000
WIP inventory ending: $30,000.
Inventory Work in Process (WIP) Starting Balance 10,000
Direct Materials 100,000
Direct Labor 50,000
60,000 in manufacturing overhead
190,000* COGM Ending Balance 30,000
What is COGM, or Cost of Goods Manufactured?
In managerial accounting, the term "cost of goods manufactured" (COGM) refers to a schedule or statement that displays all manufacturing costs incurred by a business over a given time period.
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Direct labor and manufacturing overhead costs are known as blank______ costs. multiple choice question. period\
Direct labor and manufacturing overhead costs are known as conversion costs.
What does Direct Labor mean?A product, cost center, or work order-specific production or service worker is referred to as direct labor. When a company manufactures goods, direct labor is the work of the production team that actually creates the goods, such as machine operators, assembly line workers, painters, and so forth. When a business offers services, direct labor is seen as the work of those individuals who offer services to clients directly, such as consultants and attorneys. In most cases, a person who bills time to a client is putting in actual labor hours.
Generally speaking, the cost of normal hours, shift differentials, and overtime hours spent by employees are considered to be direct labor costs.
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Suppose the equilibrium price of a gallon of milk is $4. If the government imposes a price floor of $5 per gallon of milk, the.
The quantity supplied of milk exceeds the quantity demanded.
If supply and demand are in balance, the equilibrium price occurs in economics. This indicates that for this cost, the manufacturer can create the same quantity of a good (supply) that consumers may purchase (demand). Supply and demand converge as a result. Furthermore, both buyers and sellers gain at this point. In addition, the concept of the equilibrium price is the reverse of that of disequilibrium, where supply and demand are not equal. A market-clearing price, often referred to as an equilibrium price, is the consumer cost associated with a good or service when supply and demand are equal or nearly equal. The manufacturer or vendor is free to transfer as many units as they like, and the consumer is free to access as many units as they like.
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Kristen has been late on her mortgage payments and is now in default on the mortgage. which clause in kristen's mortgage will allow the bank to foreclose on the property...?
The clause in Kristen's mortgage will allow the bank to foreclose on the property Acceleration clause 5.3 .
What is Mortgage Payment ?
A mortgage payment is normally made up of four components: principal, interest, taxes and insurance. The amount that is deducted from your outstanding loan balance is known as the principal component.Until the loan matures or you sell the property, monthly mortgage payments are typically due on the first of the month. It doesn't really matter when your mortgage funds because the payment is still due on the first whether you close on the fifth or the fifteenth of the month.
A mortgage is a loan that you obtain from a lender to pay for the purchase of a home. When you obtain a mortgage, you make a commitment to pay back the borrowed funds with an agreed-upon interest rate. The house serves as security.
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Which industry has a larger economic impact in the u. S. -sports or entertainment?.
The entertainment industry has a larger economic impact on the US
The combined economic impact of media and entertainment in 2020 was staggering: $2 trillion globally and $500 billion in the United States, the world's largest entertainment market. The Technology Association of Georgia identified 713 media and entertainment businesses in Georgia that employ 40,000 people and bring in $14.7 billion in yearly sales. The cinema, television, music, and video game industries have made Georgia into a global centre, and these industries collectively generated $6.6 billion in income. Despite experiencing a downturn during the beginning of the epidemic, many media and entertainment firms have a bright future. Through 2024, the entertainment sector is anticipated to grow at a 6% annual rate.
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Which of these controls on the vehicle is an option (not required) that can be purchased?
The controls on the vehicle that is an option (not required) that can be purchased is: "Powered Window"
What are vehicle options?
Auto Options are vehicle add-ons that new car buyers can select prior to purchase. When buying a car, buyers can be presented with dozens of options, each of which increases the price of the car.
If you want to improve performance but can't afford to buy a higher spec car, it's a good idea to upgrade.
Upgrading your car can be a great way to get the speed, acceleration and efficiency you want at a fraction of the cost.
Upgrades can range from small improvements to major system changes. Below we list some ways to upgrade your car to improve performance:
Choose better tiresUpgrade your brakes. Install the cold air intake.Replace the rubber hose with a silicone hose. Premium silicone version.Modification of the exhaust system. Upgrade your spark plugs.Connect the turbocharger.Learn more about vehicle options:
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The equation used to determine the approximate real interest rate is?
The equation that is used for the purpose of determining the approximate real interest rate is calculated by the difference between the actual interest rate less the rate of inflation in an economy.
What is the significance of real interest rate?The real interest rate can be referred to or considered as an adjusted rate of interest, which is computed by comparing the difference of nominal interest against the inflation status in an economy during a given period of time. It is written in the form of equation as,
Real Interest Rate ≅ Actual Rate of Interest – Rate of Inflation
Therefore, the significance regarding real interest rate has been aforementioned.
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Which trade measurement includes services, foreign investments, loans and foreign aid, financial capital, and financial transfers?
Balance of payments measurement includes services, foreign investments, loans and foreign aid, financial capital, and financial transfers.
A service is an " act or use for which a customer, firm, or government is willing to pay." Examples consist of work performed through barbers, docs, legal professionals, mechanics, banks, coverage companies, and so on. Public offerings are people who society as an entire can pay for.
The provider is defined as to restore, keep or provide something to someone. An instance of service is to fix a damaged washing system. An example of carrier is to provide appetizers to a group of human beings at a restaurant.
Happening or persevering with whilst one is absolutely employed in-carrier teacher training workshops. 2 : of, regarding, or being one this is absolutely hired in-provider law enforcement officials.
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Daisy enterprises has revenues of $400,000, fixed costs of $100,000, and variable costs of $500,000. daisy enterprises?
The Enterprise has revenues of $400,000, variable costs of $500,000, and fixed costs of $100,000. Daisy Enterprises should immediately stop as the revenue earned by the enterprise is less than the variable and fixed cost, to continue any enterprise should earn profit or revenue close to cost.
More about cost and revenue:
A variable cost is one that changes depending on the volume of output or the scope of the services offered. There shouldn't be any variable cost if no goods are produced or no services are rendered.
No matter how many units are sold, the fixed costs remain the same. The price you are selling the goods for less the variable costs, such as labour and materials, is your revenue.
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A budget deficit occurs when expenditures exceed _______________. revenue borrowing appropriations inflation
A budget deficit occurs when expenditures exceed revenue.
What do you mean by revenue?Revenue is the cash that a business generates via its operations. Depending on the accounting technique used, there are various ways to compute revenue. Sales made on credit will be counted as revenue for products or services delivered to the customer in accrual accounting. Revenue may be recognized in accordance with certain standards even though payment has not yet been made.
The cash flow statement must be examined in order to determine how effectively a business collects debts. Contrarily, cash accounting only counts sales as revenue when money has been exchanged. A "receipt" is a payment made to a business; receipts can exist without revenue.
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When the change in demand due to seasonality is a constant amount, regardless of trend or average, the seasonal variation is described as?
When the change in demand due to seasonality is a constant amount, regardless of trend or average, the seasonal variation is described as Additive Seasonal Variation.
What is Additive Seasonal Variation?
The seasonal component is stated in absolute terms in the scale of the observed series using the additive approach, and the level equation adjusts the series for the season by deducting the seasonal component. The seasonal component will roughly equal zero within each year.
therefore,
When the change in demand due to seasonality is a constant amount, regardless of trend or average, the seasonal variation is described as Additive Seasonal Variation.
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The tenth-century chinese scroll painting a solitary temple amid clearing peaks uses what method(s) to imply depth?
The above methods are used to imply depth as :
An Alternating darker as well as lighter values.An increasingly softer textures that ranges from bottom to top.What is Chinese scroll painting?
The Chinese scroll painting is known to be one of the widely used form or format of Chinese painting and it is one that entails the use of the handscroll.
It also consist the use of a continuous sheet/roll of paper or silk that can be of different length on which an image can be painted on and which, can be viewed or be rolled up.
Based on the above, we say that the above methods are used to imply depth as :
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The globe framework uses some of the same dimensions as the hofstede cultural values inventory, but added others. one additional dimension in the globe that is not in the hofstede values is:________
The Hofstede cultural values inventory's dimensions are used in the GLOBE framework, along with some new ones. Performance orientation is an additional GLOBE dimension that is not included in the Hofstede values.
In leadership, what is performance orientation?
Performance orientation refers to how much creativity, exacting standards, and top-notch performance are valued and rewarded. Countries with a high focus on performance value materialism and competition, and they anticipate investing in training to foster performance enhancements.
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The rate at which employees leave an organization is? a. turnover b. conformance c. workforce planning d. staffing
Turnover is the rate at which employees leave an organization. Others are not correct because:
b. Conformance is the conformity of product performance and quality to the desired standard.c. Workforce planning is a workforce recruitment planning method for identifying the company's future needs.d. Staffing is one of the management functions that carry out the withdrawal, selection, development, and use of Human Resources (HR) for the achievement of organizational goals effectively and efficiently.In general, employee turnover is an employee turnover activity of a company that is caused by the determinants of the occurrence of the employee's displacement either voluntarily or not. While the employee turnover rate or labor turnover rate is the tendency or intensity of a company experiencing employee turnover or turnover.
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Budgeting, analysis of investment proposals, and provision of funds are activities associated with the _______ function.
Budgeting, analysis of investment proposals, and provision of funds are activities associated with the finance function.
The activity of controlling and planning financial resources is known as financial function. It is a part of business in which obtaining and using the money required for effective operations is required.
Below are the objectives of finance functions.
Investment decisions- It include employing revenues received from the sale of assets that become less profitable and productive in addition to allocating resources to long-term assets.Financial decision - Many different methods and routes can be used to obtain funds. In general, a proper ratio of equity to debt must be maintained. A company’s capital structure is defined as its ratio of equity to debt.Dividend decision - A financial manager's primary responsibility in a profitable situation is to choose whether to distribute all earnings to shareholders or keep all profits for themselves. This all comes under dividend decision. Liquidity decision - It's crucial to put enough money into current assets in order to maintain the trade-off between profitability and liquidity.To learn more about finance function, refer this link
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The one thing that unites all economists is their use of? a. organizational design. b. the rational-actor paradigm. c. incentives. d. organizational history.
The correct answer is (b) the rational-actor paradigm.
The rational-actor paradigm is the one concept shared by all economists.
How do paradigms work?The Greek origin of the word indicates a notion of pattern, model, or precedent when trying to define what a paradigm is. In the contemporary world, a worldview or common understanding of reality is central to the definition of a paradigm. A theoretical paradigm is a set of accepted ideas or a frame of reference, whereas a scientific paradigm is a set of filters used by researchers in the planning, analysis, and interpretation of experiments. In a nutshell, a paradigm is a framework of assumptions, concepts, and beliefs that serves as a lens through which to view reality.
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a. The future value of $420 eight years from now at 10 percent. (Round your FV factor to 3 decimal places and final answer to 2 decimal places.)
The following equation can be used to determine future value with compound interest: future value = present value x (1 + interest rate)n. Use this formula to determine future value using simple interest: Future value equals current value multiplied by [1 + (interest rate over time)].
According to the formula for future value, FV = PV*(1+i)n, future value is equal to the present value multiplied by the sum of the annual percentage rate of interest multiplied by the number of time periods
Finance professionals use the Future Value (FV) calculation to determine the value of a cash flow at a time after it was initially received.
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More than __ of fish stocks have been severely depleted and are in need of better management to maintain sustainable global food supplies.
More than 3/4 of fish stocks have been severely depleted and are in need of better management to maintain sustainable global food supplies.
What is Food sustainability?Food sustainability refers to growing food in a way that benefits both people and animals in the communities that produce it, as well as the environment and the effective use of natural resources. It also ensures that farmers can support themselves. A movement to address the issue of how much more resources are used to produce food than are produced is motivated by this thought. There are numerous, interconnected reasons why food sustainability is crucial. However, the main reason is that it affects how well humans will be able to feed everyone in the world today and in the future. Right now, we are already unable to feed everyone on the planet.
Thus, food sustainability is growing food in a manner that does not harm anybody including the environment.
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Both the debt-equity ratio and the equity multiplier are calculated using _____ in the denominator.
Both the debt-equity ratio and the equity multiplier are calculated using stockholders' equity in the denominator.
What is debt-equity ratio?
The debt-equity ratio compares the amount of debt a firm uses to the stockholders equity, which is portion of total finance made available by the company's shareholders, it is determined total debt divided by the stockholders' equity
On the other hand, the equity multiplier is determined as the total assets divided stockholders' equity, in other words, the denominator in both cases is the equity.
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All of the following accounts have normal debit balances except for? cash. expenses. capital. accounts receivable.
Capital
Capital have credit balance because capital is the owner's investment in the business and its a liability for the business to pay the capital in future.
Increase will capital have credit balance and it is reported on the liabilities side of the balance sheet.
Cash , expense, accounts receivable have debit balance as it is treated as asset of the business and have debit balance.
As per the double entry system , every transaction has debit and credit. multiple accounts are affected.
The amount of capital will always equal to the the all assets less all liabilities.
In the year end , profit or loss is apportioned in the capital account.
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The feature that distinguishes loss contingencies from other liabilities is the:_____.
The feature that distinguishes loss contingencies from other liabilities is the uncertain Outcome.
Both bananas and apples cost $1/each. paul is deciding how many apples and bananas to purchase for $100. after careful deliberation, he decides to buy 100 apples and 0 bananas. this is an example of:_____.
This is an example of Corner Solution.
A corner solution is a unique answer to the agent maximisation problem when one of the inputs in the maximised function has a quantity of zero. In layman's words, a corner solution occurs when the chooser is unable or unwilling to make a trade-off between several options. In consumer theory, what do we mean by "corner solutions"?A corner solution is one in which none of the goods are present in the ideal bundle. 49 / 70. Consumer choice restrictions. The indifference curve is to the budget constraint at the best bundle if there is an inside solution.To learn more about Corner Solutions, Click the links.
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Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called.
Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called financial markets.
What is financial markets?A financial market can be described as the marketplace where the trading of securities as well as the equities and bonds, currencies, usually take place .
In this case, it should be noted that Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called financial markets.
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Which type of an economy, typically agricultural, can be described as where things are done in the same way as they have always been done?
The traditional economy type of economy, typically agricultural, can be described as where things are done in the same way as they have always been done.
Economics is defined as the management of financial matters in communities, businesses, or families. An example in economics is the US stock market system. A country's economy is the wealth it derives from business and industry. The Japanese economy grew by more than 10% every year. 3. Uncountable nouns. The economy is about using the minimum amount of money, time, or other resources necessary to accomplish something, and not wasting anything.
Hmm, that's confusing. But essentially the economy works by allocating scarce resources to individuals and businesses. A series of markets in which goods and services are exchanged and enabled by capital together form an economy. These networks exist at local, national, and international levels.
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According to a recent study, what impact did restaurants using the grubhub platform see on their revenue growth compared to those that did not?
According to a recent study "Revenue growth was six times greater than that of restaurants not using GrubHub" is the impact that the restaurants using the GrubHub platform, saw on their revenue growth compared to those that did not. Option A
This is further explained below.
What is revenue growth?Generally, To put it in the simplest words possible, revenue growth is the increase in the amount of money your business generates over a certain period of time in comparison to the amount of money it made over the same period of time in the previous year.
The amount of money you earned this month in comparison to the amount you made the previous month is one example.
In conclusion, According to a recent study, the impact that restaurants that used the GrubHub platform had on the growth of their revenue was six times greater than that of restaurants that did not use GrubHub. This is the impact that restaurants saw on their revenue growth when compared to those that did not use GrubHub. Alternative A
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complete question
According to a recent study, what impact did restaurants using the GrubHub platform see on their revenue growth compared to those that did not?
A. Revenue growth was six times greater than that of restaurants not using GrubHub.
B. Revenue growth was equal to that of restaurants not using GrubHub.
C. Revenue growth was three times greater than that of restaurants not using GrubHub.
D. Revenue growth was not impacted for restaurants using GrubHub.
E. Revenue growth declined for those restaurants using GrubHub compared to those that did not use it.
A successful manager is most likely to have:________
a. low general self-efficacy.
b. an internal locus of control.
c. low self-monitoring.
d. a reactive personality
Option [D] is the correct answer.
A successful manager is most likely to have a reactive personality. In addition to leading teams and fostering their growth, excellent managers may simultaneously exercise complete control over their company's operations and results.
Difference between a Manager and a LeaderA manager is not the same thing as a leader. A leader prioritizes the development and well-being of your team members while a manager may be responsible for work delegation and timekeeping. The best managers are adept at performing both tasks and can effectively leverage each employee's abilities to create a successful company. Deborah Sweeney, vice president and general manager of business acquisitions at Deluxe Corp., asserts that effective managers accomplish this by utilizing their emotional intelligence and soft skills.
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Of the five steps to the strategic marketing planning process, which step usually comes in the middle of the process?
Of the five steps to the strategic marketing planning process, which step usually comes in the middle of the process "identifying and assessing possibilities."
What is strategic marketing planning?Strategic Market Planning is a continuous process by which a company develops marketing strategies and plans their implementation in a target market.
Some key features regarding the strategic marketing planning are-
The process, which takes into account the company's current position, aids in identifying and evaluating promotional opportunities. Comprehensive research is used to identify the target market.Marketing is a complex process that cannot usually be planned in a short period of time. Strategic market planning encompasses numerous parameters to plan based on the target market and takes a long-term and short-term view of the market. Strategic market planning can be used to achieve a variety of marketing goals such as increasing market share, launching new products, conducting market research, and so on.To know more about the strategic marketing planning, here
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Braam fire prevention corp. has a profit margin of 9.70 percent, total asset turnover of 1.52, and roe of 18.58 percent. what is its firm's debt-equity ratio?
Braam fire prevention corp. has a profit margin of 9.70 percent, total asset turnover of 1.52, and roe of 18.58 percent. The firm's debt-equity ratio will be 0.91.
What is debt- equity ratio?A phrase used in accounting to describe the capital structure of a company is the debt-equity ratio. This ratio is computed specifically by dividing a company's total debt by its entire equity.
monetary ratiosFinancial ratios are measurements that analysts use to assess business performance and to compare those ratios with other companies in the same industry. They are evaluated according to the firm's financial statements.The liquidity ratios, solvency ratios, profitability ratios, and market outlook ratios are the common classes into which the financial ratios can be divided. Each lesson will highlight a different aspect of the company.Before performing their analysis, analysts should, however, evaluate the completeness and transparency of the provided financial statements. The financial statements could be manipulated by some internal investors for personal gain.ROE = profit margin × asset turnover × equity multiplier
18.58% = 9.70% × 1.52 × equity multiplier
equity multiplier = 1.91
Then debt-equity ratio is calculated as:
debt-equity ratio = equity multiplier - 1
debt-equity ratio = 1.91 - 1
debt-equity ratio = 0.91
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department a has 1,000 square feet. department b has 1,000 square feet. calculate the allocation rate for allocating $21,000 total cost on square feet.
The department has 1,000 square feet. department b has 1,000 square feet.$10.50 Is the allocation rate for allocating $21,000 total cost on square feet.
Allocation rate is that the standard amount of overhead applied to a unit of production or other measure of activity. This can be done when shifting costs to a value object, $10.50 Is the allocation rate for allocating $21,000 total cost on square feet, which can be required under one among the accounting frameworks to confirm that a full cost is applied to inventory.
A cost allocation plan may be a written summary which shows how a corporation allocates costs. between two or more programs. a company often has several allocation plans supported form of expenditure or how the. expenditure is getting used. There are many ways to allocate expenses.
Cost allocation is that the distribution of 1 cost across multiple entities, business units, or cost centers. An example is when insurance premiums are paid by the most corporate offices but allocated to different branches or departments.
The benefit allocation method sets aside the cash contributed by employer and employee into a fund that is invested to pay the benefit down the road. against this, a value allocation method estimates the general cost of advantages which will be owed and sets aside that quantity.
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This federal agency presided over all elements of war production from the distribution of raw materials to the prices of manufactured goods.
This federal agency oversaw all aspects of military manufacturing, including the supply of raw materials and the costs of finished items are known as War Industries Board
Federal agencies are specialized government entities created for a particular function, such as resource management, industry financial regulation, or matters of national security.
Between July 1917 and December 1918, the War Industries Board (WIB) was in place to organize and direct American manufacturing by establishing priorities, determining prices, and standardizing goods to aid the country's and its allies' military endeavors. US government organization called the War Industries Board (WIB) was basically established to oversee the procurement of military goods.
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Macroenvironment forces can have an impact on an industry's performance. which of these forces might be an explanation for the growth of the craft beer strategic group?
The explanation that would be responsible for the growth of the craft bear strategic group would be The social forces of millennials as they seek to express individuality through their beer choice
What is a macroenvironment?The term that would be used to refer to the major external forces that would act as the factors that can help the firm when it is making its decisions in the business. This is the social, legal and the cultural factors that have the ability to influence such.
The forces of the millennials that have the ability to show their individuality through the choice of beer that they have, has had a significant influence in the beverage industry.
These people have been able to express their desires more openly and this has provided the growth that the craft beer needed in the industry.
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complete question
Macroenvironment forces can have an impact on an industry's performance. Which of these forces might be an explanation for the growth of the craft beer strategic group?
Oa. Technological forces making it more expensive for companies to get into the beer industry
Ob. Political and legal forces limiting access to alcohol
Oc. The social forces of millenials as they seek to express individuality through their beer choice
Od. Aging population of baby boomers who are loyal to their beer brand
