1. After reading about standard costs in this unit, think about some standards that you are accustomed to in your daily life. For instance, do you only use certain types of detergents when it comes to washing your clothes? Does your daily routine include only reading from certain news sites?

2. After reading more about capital investment decisions this week, you decide to apply one of the methods, such as the payback method, to a recent investment you made. Walk through the inputs and the result. What information would be known? What would you base those assumptions on? Would the investment meet your standards?

3. Discuss how you can apply the concepts learned in this course to your current or future career. How might the lessons you have learned positively impact your career success? Optional: After reading about financial analysis this week, you decided to put your newfound knowledge to work and consider investing in a few manufacturing firms. What industry would you look at first? What ratios would stand out as the most significant for your research? What would your final choices depend on? Would they depend on product, price, or probability?