On January 1 of Year 1, a company with a calendar year end began developing a software program that it intends to market and sell to its customers. Software coding was completed on March 31, Year 1, at a cost of $200,000, and software testing was completed on June 30, Year 1, at a cost of $100,000. The company achieved technological feasibility on July 31, Year 1, at which time the company began producing master products at a cost of $125,000. 

How much must the company report for total research and development spending for the year ending December 31, Year 1?

Answer rating: 100% (QA)

Under US generally accepted accounting principles GAAP research and development RD costs are require... View the full answer