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Determine the total amount that Samantha Company classify

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Question - Samantha Company incurred the following costs during 2022:

Quality control during commercial production- P60,000

Laboratory research aimed at discovery of new knowledge- P42,000

Testing for evaluation of new products- P23,500

Trouble shooting in connection with breakdown during commercial production- P31,000

Engineering follows through in an early phase of commercial production- P27,000

Searching for application of new research findings- P24,000

Cost of equipment acquired which will have alternative uses in the future research and development projects over the next five years- P240,000

Required - Determine the total amount that Samantha Company should classify as research and development costs for 2022?

Reference no: EM133180997

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