ABC Co. made expenditures for the following: Cost in activities aimed at obtaining new knowledge ₱10,000 Marketing research to study consumer tastes 5,000 Cost of developing and producing a prototype model 3,000 Cost of testing the prototype model for safety and environmental friendliness 40,000 Cost revising designs for flaws in the prototype model 15,000 Salaries of employees, consultants, and technicians involved in R&D 20,000 Cost of conference for the introduction of the newly developed product including fee of amodel hired as endorser 100,000 Advertising to establish recognition of the newly developed product 30,000. How much is recognized as research and development expense? a. 68,000 b. 72,000 c. 88,000 d. 94,000
ABC Co. made expenditures for the following: Cost in activities aimed at obtaining new knowledge ₱10,000
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