Please answer both of the questions. Thank you Problem 33-10 (IAA)Courage Company incurred the following costs in thecurrent year:Equipment with a useful life of four years to be usedin various research and development projectsStart-up costs incurred when opening a new plantAdvertising expense to introduce a new productEngineering costs incurred to advance a productto full production stage but economic viability isnot yet achieved1,800,0004,200,0002,100,0001,200,000What is the total research and development expense?a. 1,650,000b. 2,220,000c. 3,000,000d. 3,420,000Problem 33-11 (AICPA Adapted)aring theWest Company purchased two machines for P1,000,000 eachat the beginning of current year. The machines were put intouse immediately.750,00Machine A has a useful life of 5 years and can be used only inone research project.200Machine B will be used for 2 years on a research anddevelopment project and then used by the production divisionfor an additional 8 years. The straight line method ofdepreciation is used.350,00500,000What total amount should be recognized as research anddevelopment expense for the current year?230,00020,000a. 2,000,000b. 1,500,000c. 1,100,000.d.shouldс.300,000200,00050.000

The research and development cost includes the total cost incurred to develop the product.

Problem 33-10 (IAA) Courage Company incurred the following costs in the current year: Equipment with a useful life of four years to be used in various research and development projects Start-up costs incurred when opening a new plant Advertising expense to introduce a new product Engineering costs incurred to advance a product to full production stage but economic viability is not yet achieved 1,800,000 4,200,000 2,100,000 1,200,000 What is the total research and development expense? a. 1,650,000 b. 2,220,000 c. 3,000,000 d. 3,420,000 8 the 50,000 pense

Problem 33-10 (IAA) Courage Company incurred the following costs in the current year: Equipment with a useful life of four years to be used in various research and development projects Start-up costs incurred when opening a new plant Advertising expense to introduce a new product Engineering costs incurred to advance a product to full production stage but economic viability is not yet achieved 1,800,000 4,200,000 2,100,000 1,200,000 What is the total research and development expense? a. 1,650,000 b. 2,220,000 c. 3,000,000 d. 3,420,000 8 the 50,000 pense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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