Delaware Company incurred the following research and development costs during 2011: The equipment has a seven-year life
Question:
The equipment has a seven-year life and will be used for a number of research projects. Depreciation for 2011 is $120,000.
Required:
Calculate the amount of research and development expense that Delaware should report in its 2011 incomestatement.
Transcribed Image Text:
Salaries and wages for lab research $ 4,00,000 2.00,000 9,00,000 3,20,000 65,000 350,000 .22,35,000 Materialas used in R&D projects Purchase of equipment Fees paid to outsiders for R&D projects patent filling and legal costs for a developed product Salaries and legal costs for a. developed product for another company under a contract for another company under a contract Total
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Research and development expense Salaries and wages for lab research 400000 Materials used in RD ...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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