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What amount should leeper record

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Reference no: EM132569862

Leeper Corporation incurred the following costs in 2010:

Acquisition of R&D equipment with a useful life of 4 years in R&D projects P800,000

Cost of making minor modifications to an existing product 140,000

Advertising expense to introduce a new product 700,000

Engineering costs incurred to advance a product to full production stage 600,000

Question 1: What amount should Leeper record as research & development expense in 2010?

Select one:

a. P1,300,000

b. P1,640,000

c. P940,000

d. P800,000

Reference no: EM132569862

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