Surfing the Standards Case 3: Research Expenditures PharmY, Inc. is a U.S. GAAP reporter that is in the pharmaceutical industry. In the current year, PharmY incurred expenditures related to laboratory experiments designed to discover a new drug. The expenditures were as follows: Laboratory equipment that will be used for this project only Materials that will be used for this project only Wages for employees involved exclusively in the project $1,000,000 750,000 500,000 Search the Codification to determine how to record each type of cost. Write a memo to the file to communicate your results.