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How much of the above expenditure would qualify

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Question - X Ltd is developing a new product called a burble. The company spent $300 000 researching the demand for the burble. It then spent $250 000 working out whether the compounds out of which the burble is made will biodegrade in less than 50 years.

As a result of the knowledge gained in the preceding steps, the company designed machinery to produce the burbles. This design phase cost $600 000. It is expected that millions of burbles will be sold for at least $10 each. All the expenditure was incurred within the one reporting period.

REQUIRED - How much of the above expenditure would qualify to be shown as an intangible asset?

Reference no: EM132557172

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