Reference no: EM133114292

Question - On January 1, ABC Company incurred the following costs for generation of trademark:

Costs of materials and services used or consumed in generating the trademark P500,000

Amortization of patents and licenses that were used to generate the trademark 25,000

Selling, administrative and other general overhead expenditures 60,000

Borrowing costs arising specifically from the funds borrowed for generation of the trademark 10,000

Advertising and promotional costs for the product generated by the trademark 20,000

Costs of employee benefits incurred in generating the trademark 40,000

Fees to register the trademark 20,000

Required - How much is the cost of the intangible asset?