ACC 211 – Fall 2021Exam 1 Review Materials – ONLINEThis guide is to ONLY SUPPLEMENT your use of your text, homework and lectures to study for this test. The test is worth 150 points and has approximately 43 multiple-choice questions.Here are SOME study guide items in alphabetical order:Michael R. HammondACC 211 – Fall 2021 Exam 1 Review Materials – ONLINE Note – additional procedures when taking the test through Respondus: At the beginning of the test, students are required to complete the following steps:Hold up to the camera the calculator you are using. ONLY TI BAII Plus calculator, TI BAII Professional calculator or a 4 function calculator WITH NO MEMORY may be used on exams.If the student is going to use a blank piece of paper to write calculations on, hold up the piece of paper (both sides) to show that the paper is blank.An environment video check requires the students to show the entire room as well as the entire surface area where taking the test. This includes bothsides and to the front of the student - a 360 degree view.Any violation of the course testing instructions, policies and procedures may result in an academic sanction up to and including an “XF”.At the end of the test, before  signing off Respondus, students are required to do  the following:Prior to leaving the test, (before hitting the “submit” button) the student will hold up the piece of paper to the camera (both sides) so I can see what the student wrote on the paper.Budget your time carefully. The test is only one hour long and will automatically end and submit answers at the 60 minute mark. This guide is to ONLY SUPPLEMENT your use of your text, homework and lectures to study for this test. The test is worth 150 points and has approximately 43 multiple-choice questions. Here are SOME study guide items in alphabetical order:Know about absorption costingKnow about assigning costs to cost objectsKnow about calculating percent's on an income statementKnow about committed fixed costsKnow about conversion costsKnow about direct labor costKnow about direct materials used in productionKnow about discretionary fixed costsKnow about financial accountingKnow about fixed costsKnow about gross marginKnow about indirect laborKnow about line and staff positionsKnow about management accountingKnow about mixed costsKnow about opportunity costsKnow about overheadKnow about period costsKnow about per-unit conversion costsKnow about per-unit prime costsKnow about planning , controlling and decision makingKnow about prime costsKnow about scatter-graphsKnow about the cost of good manufacturedKnow about the cost of goods soldKnow about the cost of materials purchasedKnow about the dependent and independent variable when using the high-low methodKnow about the high-low methodKnow about the items found on a manufacturer's balance sheetKnow about the items found on a manufacturer's income statementKnow about the items found on a service company's balance sheetKnow about the items found on a service company's income statementKnow about the relevant rangeKnow about the standards of ethical conductKnow about the Y-interceptKnow about variable costingknow about variable