15. In 2021, Edwards Corporation incurred research and development costs as follows: Materials and equipment P105,000 Personnel 120,000 Indirect costs 150,000 P375,000 These costs relate to a product that will be marketed in 2022. It is estimated that these costs will be recouped by December 31, 2023, but its process has not achieved economic viability. The equipment has no alternative future use. What is the amount of research and development costs that should be expensed in 2021? а. Р. b. P225,000. c. P270,000. d. P375,000.

15. In 2021, Edwards Corporation incurred research and development costs as follows: Materials and equipment P105,000 Personnel 120,000 Indirect costs 150,000 P375,000 These costs relate to a product that will be marketed in 2022. It is estimated that these costs will be recouped by December 31, 2023, but its process has not achieved economic viability. The equipment has no alternative future use. What is the amount of research and development costs that should be expensed in 2021? а. Р. b. P225,000. c. P270,000. d. P375,000.

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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