Artem Co prepares financial statements to $30$ June each year. During the year to $30$ June $20$X$5,$ the

company spent $$550,000$ on new plant as follows:

$$000$

Plant cost $525$

Delivery to site $3$

Building alterations to accommodate the plant $12$

Cost of initial testing of new plant $2$

Plant operator training costs $8$

Artem Co's fixtures and fittings were purchased on $1$ July $20$X$2$ at a cost of $$50,000.$ The directors

have depreciated them on a straight line basis over an estimated useful life of eight years assuming a

$$5,000$ residual value. At $1$ July $20$X$4,$ the directors realise that the remaining useful life of the

fixtures is five years. There is no change to the estimated residual value.

Artem Co began a research project in October $20$X$3$ with the aim of developing a new type of

machine if successful, Artem Co will manufacture the machines and sell them to customers as well as

using them in their own production processes. During the year ended $30$ June $20$X$4,$ costs of $$25,000$

were incurred on conducting feasibility studies and some market research. During the year ended $30$

June $20$X$5,$ a further $$80,000$ was incurred on constructing and testing a prototype of the machine.

In accordance with IAS $16$ Property, Plant and Equipment, what is the value of additions to plant for

Artem Co for the year ended $30$ June $20$X$5$

What is the depreciation charges for furniture and fittings Co for the year ended $30$ June $20$X$5$

What is the correct treatment of $$25,000$ costs incurred on research project during the year ended

$30$ June $20$X$4,$ and what is the criteria for recognition of the $$80,000$ incurred for the prototype?