West Coast Growers incurs the following costs during the year related to the creation of a new disease-resistant tomato plant. Salaries for R&D $ 540,000 Depreciation on R&D facilities and equipment 145,000 Utilities incurred for the R&D facilities 7,000 Patent filing and related legal costs 27,000 Payment to another company for part of the development work 13,000 What amount should West Coast Growers report as research and development (R&D) expense in its income statement?

Explanation:

Salaries R&D $540,000

Depreciation on equipment 145,000

Utilities incurred 7,000

Payment for development work 13,000

R&D expense 705,000

*Paten filing and related legal costs are recorded to patent intangible asset account

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

answer; niosh, the national institute for occupational safety and health;