Celina Company incurred the following research and developments costs in the current year: Materials used in research and development projects. 400,000 Equipment acquired that will have alternate future use in future Research and Development projects 2,000,000 Depreciation on above equipment. 500,000 Personnel costs of persons involved in research and development projects. 1,000,000 Consulting fees paid to outsiders for research and development projects. 100,000 Indirect costs reasonably allocable to research and development projects. 200,000 What amount of research and development costs should be expensed in current year? A. 1,500,000 B. 1,700,000 C. 2,200,000 D. 3,500,000
-
Celina Company incurred the following research and developments costs in the current year:
Materials used in research and development projects. 400,000
Equipment acquired that will have alternate future use in future Research and Development projects 2,000,000Depreciation on above equipment. 500,000
Personnel costs of persons involved in research and development projects. 1,000,000
Consulting fees paid to outsiders for research and development projects. 100,000
Indirect costs reasonably allocable to research and development projects. 200,000
What amount of research and development costs should be expensed in current year?
A. 1,500,000
B. 1,700,000
C. 2,200,000
D. 3,500,000
Trending now
This is a popular solution!
Step by step
Solved in 2 steps