Hi Please help me with this exercise :

E12-17 (L05) (Accounting for R&D Costs) More Company incurred the following costs during the current year in connec- tion with its research and development activities.

Cost of equipment acquired that will have alternative uses in future R&D projects over the next 5 years (uses straight-line depreciation) $280,000

Materials consumed in R&D projects $59,000

Consulting fees paid to outsiders for R&D projects $100,000

Personnel costs of persons involved in R&D projects $128,000

Indirect costs reasonably allocable to R&D projects $50,000

Materials purchased for future R&D projects $34,000

Instructions :

Compute the amount to be reported as research and development expense by More on its current year income statement. Assume equipment is purchased at the beginning of the year.

Please see the attachment for proper question.

Thanks