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kindly show calculation properly and please answer in 30mins only answer the required point with calculation no extra explanation Question 6 of 12 Question 6
kindly show calculation properly and please answer in 30mins only answer the required point with calculation no extra explanation
Question 6 of 12 Question 6 4.5 points Muharraq Co. paid the following different costs in 2020: 1. $1,200,000 to acquire a machine to be used in the R&D projects. The machine has a 6-year useful life (Muharraq Co. started using the machine on 1 January 2020 and a straight-line depreciation method is applied). 2. $750,000 for construction costs incurred to open a new plant. 3. $230,000 for salaries expenses to the workers who investigate a new formula 4. $310,000 for material and equipment used in research and development project. 5. $270,000 for advertising expenses to the new products. 6. $190,000 for consultation services provided by Manama Co. during the research process. Required: How much Muharraq Co. should record as Research & Development expense in 2020? (Show your calculations)Step by Step Solution
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