70.2K
Verified Solution
Link Copied!
Carla Vista Co. incurred research and development costs in 2021 as follows:
| Materials used in research and development projects | $ 925000 |
| Equipment acquired that will have alternate future uses in future research | |
| and development projects | 2750000 |
| Depreciation for 2021 on above equipment | 458333 |
| Personnel costs of persons involved in research and development projects | 725000 |
| Consulting fees paid to outsiders for research and development projects | 275000 |
| Indirect costs reasonably allocable to research and development projects | 200000 |
| | $5333333 |
The amount of research and development costs charged to Carla Vista's 2021 income statement should be
Answer & Explanation
Solved by verified expert
