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MNO Inc. incurred the following costs during the year ended December 31, 2015: Laboratory research aimed at discovery of new knowledge $230,000 Costs of testing
MNO Inc. incurred the following costs during the year ended December 31, 2015:
Laboratory research aimed at discovery of new knowledge $230,000
Costs of testing prototype and design modifications 75,000
Quality control during commercial production, including routine testing
of products 270,000
Construction of research facilities having an estimated useful life of
6 years but no alternative future use 360,000
The total amount to be classified and expensed as research and development in 2015 is?
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