During the year to 31 December 2020, Manchester had incurred $200,000 of development costs for a new product. In addition, Manchester spent $60,000 on 1 January 2020 on machinery specifically used to help develop the new product and $40,000 on building the brand identity. Commercial production is expected to start during 2020. The machinery is expected to last 4 years with no residual value. Required: Discuss the development cost of $200,000, machinery cost of $60,000 and cost of $40,000 on building the brand identity in accordance with IAS 38 Intangible Assets.