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Determine the research and development costs

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Reference no: EM132919926

Pfizer reported R&D costs for 2020:

Materials used in research and development projects = $400,000

Equipment acquired that will have alternative future use in future = 2,000,000

Personnel costs of persons involved in research and development projects = 1,500,000

Consulting fees paid to outsiders for research and development projects = 100,000

Indirect costs reasonably allocated to research and development projects = 200,000

Problem 1: Determine the research and development costs that expensed in year 2020.

Reference no: EM132919926

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