Business, 22.07.2020 17:01 Dragonskeld

Maxtor Technology incurred the following costs during the year related to the creation of a new type of personal computer monitor: Salaries $240,000
Depreciation on R&D facilities and equipment 135,000
Utilities and other direct costs incurred for the R&D facilities 68,000
Patent filing and related legal costs 24,000
Payment to another company for performing a portion of the development work 130,000
Costs of adapting the new monito for the specific needs of a customer 82,000
What amount should Maxtor report as research and development expense in its income statement?

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Maxtor Technology incurred the following costs during the year related to the creation of a new type...

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