TO SAVE YOUR WORK D1 During 2017, Hutton Pharmaceutical Company incurred $35,000,000 of research and development (R&D) costs to develop a new hay fever drug called Allergone. In accordance with FASB standards, the entire R&D cost costs (direct materials, was recognized as expense in 2017 direct labor, and overhead) to produce Allergone are expected to be $20 1 per unit. Packaging, shipping, and sales commissions are expected to be 53 per unit. Hutton expects to sell s,000,000 units of Allergone before developing a new drug to replace it in the market During 2017, Hutton produced 800,000 units of Allergone and sold 600,000 of them Assume a financial statement data are prepared in accordance with Generaly Accepted Accounting Principles Requited dentiy the upstream and downstream costs b Determine the 2017 amount of cost of goods sold and the Dacember 31 2017 ending inventory baiante 20 nvmen should ertsbith assumint, deres to erna pre maren .eval toae eercent of the tot, cert er KSheet1 New TO SAVE YOUR WORK D1 During 2017, Hutton Pharmaceutical Company incurred $35,000,000 of research and development (R&D) costs to develop a new hay fever drug called Allergone. In accordance with FASB standards, the entire R&D cost costs (direct materials, was recognized as expense in 2017 direct labor, and overhead) to produce Allergone are expected to be $20 1 per unit. Packaging, shipping, and sales commissions are expected to be 53 per unit. Hutton expects to sell s,000,000 units of Allergone before developing a new drug to replace it in the market During 2017, Hutton produced 800,000 units of Allergone and sold 600,000 of them Assume a financial statement data are prepared in accordance with Generaly Accepted Accounting Principles Requited dentiy the upstream and downstream costs b Determine the 2017 amount of cost of goods sold and the Dacember 31 2017 ending inventory baiante 20 nvmen should ertsbith assumint, deres to erna pre maren .eval toae eercent of the tot, cert er KSheet1 New