Computer Students Who Watched Their Teachers Go Out on Strike

question 66

Multiple Choice

Computer students who watched their teachers go out on strike were amazed when they heard about the difficult logistics required in such an operation.Two students spent two nights and two days developing a program for organizing a strike and picket line.It included such variables as legal requirements,number of sites,number of picketers,communications network,shifts,media contacts,etc.The students called their program "Picket Program." The students took their package-program and manual-to a computer developer/publisher,Mr.Lacs,to discuss the feasibility of marketing the program.Lacs said it was feasible.However,negotiations,which had lasted over a two week period,broke down when Lacs rejected the students' terms in their licensing agreement.Three months later,the students learned that Lacs developed and published a program called "Picketers' Path" based on their ideas,with a manual that they recognized as theirs.Given these facts,which of the following is true?

• A) With regard to the computer program, Lacs could not be sued for misuse of a trade secret because the students only told him their idea and ideas cannot be protected by trade secret law.
• B) Because there was no non-disclosure agreement signed by Lacs, he cannot be sued for misuse of a trade secret.
• C) The students' manual was not protected by copyright, because they had not yet applied for protection under the Copyright Act.
• D) The students could sue for breach of trade secret law if they can show it was apparent in the circumstances that Lacs was being trusted with confidential information.
• E) The students cannot protect the computer program under the law of trade secrets because all the information it contained could be obtained by others-e.g., the law from the library, the necessities of picketers from observation or unions, etc.

Determine the cost per equivalent unit using the FIFO method.

Compare the FIFO method to the weighted-average method in terms of cost control and cost assignment.

Evaluate the impact of beginning and ending work in process inventories on equivalent units and cost per equivalent unit under the FIFO method.

Interpret operating data to calculate equivalent units of production for materials and conversion costs.

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Definitions:

Entry Restrictions

Regulations or barriers that prevent new competitors from easily entering an industry or area of business.

Revenue Function

A mathematical relationship describing how a firm’s total revenue changes with variations in output or sales.

Total Profits

The entirety of financial gains earned by a business after subtracting all costs and expenses from total revenues.

Advertising Costs

Costs associated with marketing a product, service, or brand to prospective buyers.