In 20X1, Ball Labs incurred the following costs: Direct costs of doing contract research and development ..............
Question:
In 20X1, Ball Labs incurred the following costs:
Direct costs of doing contract research and development .............. $400,000
work for the government to be reimbursed by a governmental unit
Research and development costs not included above were:
Depreciation ............................................................ $300,000
Salaries ....................................................................... 700,000
Indirect costs appropriately allocated .................... 200,000
Materials ..................................................................... 180,000
Required:
What was Ball’s total research and development expense in 20X1?
Step by Step Answer:
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer