Discussion Post: Accounting
1) Describe how standard costs are determined by a manufacturing company. Describe two types of standard cost variances that are used by management to assess both the efficiency and effectiveness of comparing actual hours to standard hours.
2) Out of the following schools of thought we covered in this course (listed below), which philosophy did you relate to the most, and why? How can you use that school of thought to help you become a better problem solver?
a) Existentialism
b) Epistemology
c) Rationalism
d) Ethics
e) The Socratic Method
f) Scholasticism.
The response must include a reference list. One-inch margins, double-space, Using Times New Roman 12 pnt font and APA style of writing and citations.