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Business, 06.05.2020 00:43 zarrialamons16

In 2016, Austin Powers Corporation developed a new product that will be marketed in 2017. In connection with the development of this product, the following costs were incurred in 2016: research and development costs $400,000, materials and supplies consumed $60,000, and compensation paid to research consultants $125,000. It is anticipated that these costs will be recovered in 2019. What is the amount of research and development costs that Austin Powers should record in 2016 as a charge to expense

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In 2016, Austin Powers Corporation developed a new product that will be marketed in 2017. In connect...
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