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Blossom Co. incurred research and development costs in 2021 as follows: Materials used in research and development projects 970,000 Equipment acquired that will have alternate
Blossom Co. incurred research and development costs in 2021 as follows:
Materials used in research and development projects | 970,000 |
Equipment acquired that will have alternate future uses in future research | |
and development projects | 3,200,000 |
Depreciation for 2021 on above equipment | 533,333 |
Personnel costs of persons involved in research and development projects | 770,000 |
Consulting fees paid to outsiders for research and development projects | 320,000 |
Indirect costs reasonably allocable to research and development projects | 245,000 |
$6,038,333 |
The amount of research and development costs charged to Blossom's 2021 income statement should be?
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