Reference no: EM132895684
During 2020, Power Company incurred costs to develop and produce a routine, low-risk computer software product as follows:
Packaging product (500 units) - $90,000;
Duplication of computer software and training materials from product masters (1,000 units) - $250,000;
Completion of detailed program design - $130,000;
Cost of producing product masters for training materials - $150,000;
Other testing costs after establishment of technological feasibility - $200,000;
Costs incurred for coding and testing to establish technological feasibility - $100,000;
Other coding costs after establishment of technological feasibility - $240,000.
Problem 1: How much must be capitalized as software cost subject to amortization in Power Company's December 31, 2020 statement of financial position?
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